Trading is not allowed, but I always thought, if they have allowed people to own Bitcoin but did not allow them to buy or sell BTC, whether in crypto to crypto or crypto to fiat deals, then how the hell are people going to own BTC in the first place? They go to other countries and buy it and then own it, or they use informal ways!
Well, for some time I thought Chinese people were not buying and selling crypto, but on the 10th of October's incident in 2025, many Chinese, along with other nationals, lost their trades on Binance due to some failure of liquidity management from the broker's side. Well, that showed millions were still trading crypto, and using Binance is not even an informal way. That's a centralized platform.
So the Chinese government is not taking strict action against them, maybe!
You know what I don't like? I hate when people play with words and don't come straight to the point. The Chinese government is moving like a Dracula instead of been a normal vampire. What's there admit to people. If you banned something, then that thing is consider to be illegal. If it's not illegal and can be owned, then it's not banned, but the versions of Bitcoin laws I have seen and read gives me headache, they are just twisting laws to make them look like good people, Chinese government they aren't good people.
Look at the
Chinese local board, that board literally has three thread replies this month, it's been 6 days of October. Check the top Crypto exchanges, they are owned by Chinese and Mandarin, they control more than half circulating supply of tokens on all exchanges and none of them are back home, they have moved to different countries for security and freedom, they know their government will have their head for the things they do and somebody want to say Bitcoin is investment in China, common!