News Snapshot:
A Chinese court stated that there is no law regarding cryptocurrency, an indication that investors would carry out crypto investment at their peril. No Protection for Chinese Crypto Investors According to the South China Morning Post on Monday (August 23, 2021), an intermediate court in the city of Jinan revealed that cryptocurrency investment and trading were not covered by the law. The development further enforces crypto’s illegal status in China. The statement came after the Jinan high court reviewed a case involving bitcoin. Back in 2017, a Chinese resident bought cryptocurrency worth 70,000 yuan ($10,794) following an endorsement by three...
