And they can also impose a huge fine. The Chinese government’s dislike for cryptocurrencies has been known for a long time – back in the fall of 2021, the People’s Bank of the country decided that all crypto transactions in China become illegal. Discuss
Provided for under this article and a fine – from 7900 to 79 000 dollars. The new amendments will come into effect on March 1, 2022.
The country's government explained the ban on cryptocurrencies by the difficulty of controlling digital money. Also, the fact that criminals very often use Bitcoin, Ethereum, etc. was cited as one of the reasons. for money laundering, tax evasion and sponsorship of illegal organizations.
Source: Tom's Hardware