Is the Bitcoin buying and selling trading platform legal?

Bitcoin investment is not yet clear in Chinese law, but there are legal risks. Bitcoin is a technology and does not constitute a scam in itself, but some forms of Bitcoin investment may be illegal. Its circulation transactions are similar to securities issuance, lack of supervision, opaque transactions and large price fluctuations, and investors face huge risks. In addition, Bitcoin is not recognized by the central bank and there are no relevant protection provisions in the Civil Code. Speculating on Bitcoin is extremely risky.

Bitcoin investment currently has no clear legal basis to prove its legality in our country, and there is no clear law prohibiting the development of Bitcoin. However, Bitcoin investment in high Under the surface of profits, there are also very large legal risks. Because Bitcoin is just a technology and method, there is no saying whether it is a scam. However, different Bitcoin investments may be scams based on their different forms, and are more likely to involve illegal crimes.

Due to the lack of supervision, most of its circulation and transaction forms are similar to the issuance and listing of securities, and there are behaviors of setting up exchanges for trading. Its transaction process and transaction results are not transparent, and it is difficult to regulate when problems arise. Moreover, its price formation mechanism is opaque, and transaction prices fluctuate sharply, which can easily cause investors to suffer huge losses.

Since it has not been recognized by the central bank, it cannot be used as currency in the country. Once it encounters policy supervision, it is likely to encounter the risk of no one taking over the price and the price will plummet. The Civil Code does not clearly protect the corresponding provisions of digital currency. Therefore, speculating on Bitcoin is equivalent to running naked in the cold winter, which is very dangerous.

Although Bitcoin is not illegal, it does not rule out that it is a currency outside of supervision and is used by a small number of fraudsters and illegal fund-raisers as a tool for illegal crimes and money laundering.

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