Is it legal to borrow money to buy virtual currency

1. The virtual currency represented by bitcoin is legal in China. In the bitcoin risk notice issued by the central bank and other five ministries and commissions at the end of 2013, bitcoin was clearly defined as a special Internet commodity. People can buy and sell it freely at their own risk, denying its monetary attribute. Zhou Xiaochuan, governor of the central bank, compared bitcoin to a tradable asset like a stamp. There are related reports on bitcoin home

bitcoin is a consensus network, contributing to a new payment system and a fully digital currency. It is the first decentralized peer-to-peer payment network, which is controlled by its users without a central management organization or middleman. From the user's point of view, bitcoin is much like Internet cash. Bitcoin can also be regarded as the most outstanding three style bookkeeping system.

2. Virtual currency, represented by bitcoin, is legal in China. It is defined as a special Internet commodity. People can buy and sell it freely at their own risk. But it is illegal to carry out pyramid schemes under the guise of bitcoin. Now to create a virtual currency trading platform, we must record the website and implement real name authentication for users. Bitcoin is legal in most countries around the world, except that some small countries explicitly ban it

since 203, the more popular virtual currencies are bitcoin, Wright coin, Fuyuan coin, doggy coin, dark coin, reborn coin and so on.

3. It's not against the law, but if the other party deceives you, you can't recover the money. It's an illegal debt. It's not protected by law. Virtual currency is not issued by the monetary authority. It doesn't have the monetary attributes of legal compensation and compulsion. It's not a real currency. It doesn't have the same legal status as currency. It can't and shouldn't be used as currency in the market, Citizens' investment and transaction of virtual currency are not protected by law
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4. First, virtual currency, such as bitcoin, or some game and network currencies, such as QB and some game gold coins, are all personal legal property. As long as an indivial legally obtains them, they will be protected
Second, transactions prohibited by the state, especially speculation and trading of the virtual currency are prohibited in China. However, banning trading does not mean that the virtual coin itself is illegal or worthless
for example, bitcoin, which China refuses to recognize as any regional chain block currency, also forbids trading and services, does not mean that bitcoin itself has no value. In the international trading system, bitcoin is recognized in some regions, And there is a corresponding value scale
when someone steals bitcoin or swindles bitcoin, the state will still treat it as theft or fraud, and the amount needs to be approved< At present, the transaction and pricing of virtual currency are prohibited in China, but the value and holding of virtual currency itself are not prohibited. As long as the currency is not defined as illegal, it is legal.
similarly, game currency is also recognized as legal property, but its transaction is prohibited by the state, which does not affect the corresponding legal liability caused by the infringement of virtual currency