1 At present, there is no clear law to confirm the legality of bitcoin investment in China, and there is no law to prohibit the development of bitcoin. Bitcoin is only a technology and method, and there is no saying whether it is a scam or not. However, different bitcoin investments may be scams according to their forms, and they are more likely to involve illegal crimes.

2. Bitcoin can be bought and sold freely as a commodity. Although the central bank does not recognize Bitcoin's legal tender status, it does not deny the legitimacy of Bitcoin as a commodity, and does not prohibit investment and trading of Bitcoin. Ordinary people have the freedom to participate at their own risk.

3. Bitcoin transactions have not yet collapsed. A bitcoin player said that the current transaction price of Bitcoin is not so low as to cause the transaction to collapse. The price of bitcoin is still higher than the cost price of bitcoin, that is, the price of mining.

4. The trading channels are not blocked. Although some third-party payments have stopped supporting bitcoin transactions and banks are not optimistic, the bitcoin trading platform can also use other third-party payment interfaces or use foreign payment interfaces to pay. Some bitcoin trading platforms are considering transferring servers abroad.

Legal basis:

Article 176 of the Criminal Law of the People's Republic of China illegally absorbs public deposits or absorbs public deposits in disguised form, thus disrupting the financial order, he shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention and shall also, or shall only, be fined; If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years and shall also be fined; If the amount is especially huge or there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years and fined.

Derivative problem:

What is virtual currency?

Virtual currency refers to unreal currency. Virtual currency is not issued by monetary authorities, has no monetary attributes such as legal compensation and compulsion, is not a real currency, has no legal status equivalent to currency, cannot and should not be used as currency in circulation in the market, and citizens' investment and transaction of virtual currency are not protected by law.