Bitcoin’s surge attracts tax vultures, BTC ruled a commodity in China but legal risks abound, Vitalik Buterin meets Moo Deng: Asia Express.
Cryptocurrencies are considered commodities in China and are not explicitly prohibited by law, according to commercial judge Sun Jie at Songjiang District Peoples Court in Shanghai.
However, crypto activities like trading, issuance, or payments are considered illegal financial activities.
Suns statement posted on Songjiang Courts official WeChat channel provides legal guidance on cryptocurrencies during a booming market cycle, which she calls the new gold rush.
