Why is trading virtual currencies not illegal, but why do banks try to block transfers?
In the domestic market, trading cryptocurrencies can really lead to significant losses, as our laws are not very friendly towards the crypto world, feeling like they are born adversaries.
In the crypto world, don’t expect the law to back you up on your personal rights. Whether it's your legitimate interests or your $BTC , the law will not support you. But if you do something illegal, the law will not be lenient.
For instance, if you have one hundred bitcoins, that's your own business. But if you lose them, the law won’t help you find them back; if they are stolen, the law won’t help you seek justice.
What’s more troublesome is that if you want to cash out those bitcoins, the risks multiply! The most headache-inducing issue is receiving dirty money or being scammed. In this area, we are “not allowed to operate externally, but quite capable internally.” The law doesn’t stop you from trading cryptocurrencies, but it just doesn’t make it convenient for you to trade; the law doesn’t stop you from holding cryptocurrencies, but it just doesn’t make it convenient for you to cash out.
In the domestic market, if you lose money on an exchange, just consider yourself unlucky; finding a place to defend your rights is difficult!
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