At the same time, owning and investing in cryptocurrency is not officially illegal. Beijing Sci-Tech Report, China's oldest tech magazine, announced it will now accept subscription payments in bitcoin despite repeated government crackdowns on use of cryptocurrencies in recent years. The publication said in a statement that the move was designed to encourage the promotion of blockchain-based payment methods via 'practical actions", with an annual subscription set to cost 0.01 BTC ($65). China has been cracking down hard on crypto-related activities since last year, when authorities banned initial coin offerings (ICOs) and ICOs altogether.
Beijing Sci-Tech Report, China's oldest tech magazine, announced it will now accept subscription payments in bitcoin despite repeated government crackdowns on use of cryptocurrencies in recent years. The publication said in a statement that the move was designed to encourage the promotion of blockchain-based payment methods via 'practical actions", with an annual subscription set to cost 0.01 BTC ($65). China has been cracking down hard on crypto-related activities since last year, when authorities banned initial coin offerings (ICOs) and ICOs altogether.