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Library of Congress officially recognized an absolute cryptocurrency ban in be pegged to its currency.
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Why Does China Keep Banning Bitcoin?Since , the government has issued regulations aimed at restricting the trade of cryptocurrency and any activities related to virtual currency in efforts to. All cryptocurrency transactions in China are considered illegal, including offshore exchanges to provide services to Chinese citizens. Despite this ban, it is generally not illegal to hold cryptocurrency in China. In October of , the People's Bank of China issued a draft law providing legal.