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China will punish those who use cryptocurrencies in their nation with jail
In short, the change to cryptocurrencies has been in some continents a state of little transparency. One of them is in the Asian giant better known as China, where the state has announced a certain type of fines and sentences for those who sell cryptocurrencies or are used in some companies.
But why has the Asian titan come to make such a drastic decision?
As we know, this huge country is considered one of the territories with the highest population in the world and, in addition to that, it is a giant copying of big brands at a technological level. Also considered the second country with the best economy on the globe.
But for all that you have to have an organization and discipline that really shows with the naked eye.
What does all this have to do with restrictions on digital currencies?
Being a country that has a population of 1,400 million people, well, something will have to escape it.
The cryptocurrency market is completely secret and does not derive from a banking body where the entry of money can be located.
That is why the court of the Asian titan has considered that all that entry or exit with a cryptocurrency is a completely illicit good. And even if they are right, that will not stop being a problem for investors who are in their country, China.
Measure taken in case of possible tax evasion
All this happens because many of the people/companies manage to make transactions through a market, such as Binance, and therefore the tax rate would not enter the state, the market itself would benefit.
Of course, this does not take a state at all well, because knowing that it is "evading" taxes would be a way of "swindling" the state itself.
That is why the Chinese government has published its new law, in which it portrays that any person or company that uses this method of payment within their country will pay a fine or, in the worst case, will pay with their freedom.
But, we observe how a government that assumes that there is a vast difference and that it cannot provide the same security and speed in its banks in some way, prohibits what many find as a solution.
