I remember there was a lawsuit that made it clear that China recognized bitcoin as a property which can be legally owned. I search for it online and I saw this on Forbes:


The Forbe article was in July of this year but I read it last year or last 2 years.

Oh! Probably this could be the reason.

Social media can be a medium of fake and authentic news. Knowing the source of the information in X will show how true the news is. I did a brief research and found nothing regarding the move to relegalise Bitcoin. However, nothing is impossible, China might want to reconsider its stance on Bitcoin. The approval of Hong Kong spot Bitcoin ETFs and the involvement of some major Chinese asset managers in business might be a sign that China is softening its strict approach to Bitcoin. An announcement by the communist government of China that Bitcoin is now accepted in the country will make this bull season a memorable one.

Yes, that's correct! China views Bitcoin as property, but unlike in the US, where it’s taxable and subject to capital gains when sold, China doesn’t tax it because trading or selling Bitcoin is illegal.

However, in the event of a dispute, Chinese courts handle Bitcoin cases under their property laws, similar to real estate. If Bitcoin is stolen, it’s typically valued at the market price when the theft occurred, and if it can’t be recovered, the victim is compensated in fiat based on that value.

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As the law states, trading and mining Bitcoin are illegal, but there's no mention of it being illegal to accept Bitcoin as a gift. So, just tell them it was a gift!

Those are just rumors, and while there have been plenty of articles talking about China lifting the ban on Bitcoin trading and mining, nothing official has come out yet. It's all speculation for now.

[1] China’s Potential Reversal on Bitcoin Ban Sparks Global Debate
[2] Buzz in Crypto Community Over Possible Lifting of China’s Bitcoin Ban Rumors
[3] Mainland China to ‘unban’ Bitcoin? Community says ‘unlikely’

I haven’t seen this type of news. However its a complications if China accept btc or crypto. However i have seen many times that China going to accept btc and even China going to banned it. I think this news doesn’t make any impact on the market if the source is legit. I am really being bothered having this kind of news time after. However we want that whole world accept btc and legal it for using it as a worldwide currency. Btc has that potentiality to use it as currency nevertheless many government trying to banned it and restrict. This is really unfair. I have strong believe that whole world will accept and legal btc one day.

It would be great news if it were true because China as I know it is still thick with rejection of Bitcoin and even in the news banned Bitcoin.

Just like you, I still haven't thought about it that they will legalize Bitcoin. If they legalize Bitcoin, they may have forgotten the "often" stated firm stance although I found a tweet on x (formerly twitter) that a member of the House of Representatives proposed incorporating Bitcoin into the Fiscal Reserve. That was a tweet from July 29th.

If that is true it would be great news for Bitcoin, but I don't think it will be true considering how protective the Chinese government is of their own currency and how they see Bitcoin as a threat to the adoption of the digital yuan. But we don't know in the future, maybe the Chinese government is more open to Bitcoin, it could happen, or it could not happen at all.

Another news that always make a strong blow to the market whenever it is coming from China. I think that it has something to do with the collapsing economy that isn't just shown in the media. After the huge hit that they've got from the real estate industry and as well as their banking industry have been delaying withdrawals and some are completely stopping depositors to withdraw their money, this is a huge step for them to make.

It's unlikely that they're going to accept BTC as a currency. They've got BRICS and they want to make their own currency, RMB to be a stronger one by having that alliance and to surpass USD. So, it's better for them to stay legalizing BTC as an asset but won't accept it as a currency. That two is different but I think it all still sums up for accepting BTC no matter how they view it.

China should be more welcoming to crypto. A giant economy like China can't afford to ignore crypto forever. Especially when pro-crypto Trump is about to win the elections next month. Th majority of the miners are located in the US and there are other big crypto corporations and all of these will have massive benefits under the Trump administration. What's China going to do? Are they gonna watch like nothing is happening over there? Even Binance moved their headquarters from China to Malta back in the day. I don't understand why is China so hostile against crypto. It is probably because they know they can't control it but guess what, people in China use crypto anyway. All that hostility against crypto only costing China a huge amount of money and too bad they don't see it.