Currently. It’s gone back and forth a few times, with each 'ban" preceding large purchases by the Chinese government of cryptocurrencies.
But even if it is illegal in China, they can hold the money offshore and spend it as easily as anybody else.
Also, if you are politically connected or pay the government enough money and your behavior doesn’t negatively affect the CCP, then things aren’t actionably illegal in China.
Currently. It’s gone back and forth a few times, with each 'ban" preceding large purchases by the Chinese government of cryptocurrencies.
But even if it is illegal in China, they can hold the money offshore and spend it as easily as anybody else.
Also, if you are politically connected or pay the government enough money and your behavior doesn’t negatively affect the CCP, then things aren’t actionably illegal in China.