China to ban owning Bitcoin? Gate.io to pay $30M over liquidations: Asia Express

Asian media outlets report unverified rumors of Chinese ban on owning Bitcoin, Gate.io faces $30M bill after perps liquidation fiasco: Asia Express

The crypto industry has never been short on rumors suggesting that China is preparing to un-ban Bitcoin since the nations 2021 crackdown on crypto trading and mining.

But this past week, the narrative flipped, with some media outlets claiming that China is now banning Bitcoin ownership outright. One of the most widely circulated stories came from India-based Financial Express, which cited a supposed Binance report.

Magazine found no such report authored by Binance and the exchange did not respond to a request for comment. Magazine also found no supporting reports from Chinese state media or official government sources.

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