What would people face in china if they buy crypto ?

[krypticcoin]

china bank regulator is pushing for blockchain tech to be used for credit cards!

[Thanasis]

China is not yet banned crypto currencies they just banned ICOs and shut down the crypto trading exchanges.Still no announcement yet from the Chinese government that they banned crypto currency(in my knowledge).So you can buy and hold crypto currencies if you want until they officially ban it.But I think china banned all the exchanges so it maybe hard to buy crypto currency anymore for chinese citizens.

[Seeker#9]

There is no report of putting people in jail when they caught buying a cryptocurrency.  The news says China plans to cut off domestic access to digital plaforms and exchanges that enable people to trade digital currencies. This apart from earlier report of sweeping bans of local exchanges across the country and restricts their citizens from joining ICOs. Many chinese are also cryptocurrency holders and there still no report of arrest if ever owning a crypto is already punishable by law in their country. There are also reports that bitcoin trade goes underground after the crackdown.

[burner2014]

There is no report of putting people in jail when they caught buying a cryptocurrency.  The news says China plans to cut off domestic access to digital plaforms and exchanges that enable people to trade digital currencies. This apart from earlier report of sweeping bans of local exchanges across the country and restricts their citizens from joining ICOs. Many chinese are also cryptocurrency holders and there still no report of arrest if ever owning a crypto is already punishable by law in their country. There are also reports that bitcoin trade goes underground after the crackdown.

I heard from news that China is banning bitcoins and exchanges but I don't think that Chinese won't make ways to buy crypto. As crypto is decentralize so there is so much ways for them to  buy if they really want to. But with the situation that they will put in jail if they caught I think that there is no still regulation to that.

[MCVXYZ]

I dont understand why people are interested in it,If china ban cryptocurrency and exchanges miners will change jurisdiction and will send their miners in another country or they will start cloud mining,What is problem? Exchanges?they will not use exchanges to withdraw money from china and they will not be identificied.its so hard but there is solution.If there is panic about price please read more about law of demand,btc price will rise up very very soon and the loser will be only iniciator of this strict regulations.