China’s relationship with bitcoin has long been defined by regulations. As news of the country’s latest restrictions once again dominates headlines, it’s important to put the new regulations in the context of past ones.
China’s first major crypto statute came in 2013, when the government recognized bitcoin as virtual property but banned it as a medium of transaction. In 2017, China’s central bank declared initial coin offerings (ICO) illegal, causing bitcoin’s value to temporarily…
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