So, China may have finally back peddled on its Crypto ban with a Shanghai court confirming that individuals in China can now legally own cryptocurrency.
This came from Sun Jie, a judge at the Shanghai Songjiang People's Court, who wrote in an article published on Shanghai High People's Court's official WeChat account this week that it is "not illegal for individuals to hold cryptocurrency"
However, Chinese business entities are not allowed to take part in cryptocurrency investments or token issuance "at will".
Now this push seems to obliviously be a reaction to the US pushing forward with crypto and China trying to play some catch up.
This also ties in with another recent story that China could finally stop selling its Bitcoin reserves, estimated at around 190,000 BTC.
Anyways would love to hear opinions on the matter. Show Less
