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1/ "It is legal to own bitcoins in China" says Sa Xiao, Council Member at Bank of China Law Research Association, cited by The Beijing News. Besides, Xiao considers occasional exchange of bitcoins between individuals and individuals is legal
Source(in CN): bjnews.com.cn/finance/2019/0…
Source(in CN): bjnews.com.cn/finance/2019/0…
2/ Xiao also believes if one runs BTC trading as a business and has caused significant customer losses w/ serious consequences, the possibility of punishment according to criminal law (225#4 Other illegal business practices that seriously disrupt market order) cannot be ruled out
3/ Context: The Beijing News reported a case which involves 100+ users who were scammed of 7000+ BTC. The scammer claimed they would borrow users' BTC to arbitrage between exchanges and distribute profits back to users. However scammer disappeared after users' last large deposit
4/ Xiao's views were based on current legal framework which protects ppl's rights of virtual properties (Bitcoin included). Occasional P2P tradings of bitcoin is in nature "disposition right", one of the rights of "ownership". Therefore owning & occasional P2P trading is legal
