Bank of China’s Law Research Association declared that the ownership of Bitcoins is not considered illegal, although the ban for trading still remains in effect.
Sa Xiao, a Council Member at the Bank of China’s Law Research Association, unveiled that Bitcoin and a number of operations with it stay within the law frames of China. CnLedger, Chinese crypto news, reads:
“It is legal to own bitcoins in China’ says Sa Xiao, Council Member at Bank of China Law Research Association, cited by The Beijing News. Besides, Xiao considers the occasional exchange of bitcoins between individuals and individuals is legal.”