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Im not sure if this should be in finance or here, but recently reports have come out that China has (or is aiming to) ban trading of cryptocurrencies. Colloquially as an America this means to me: Nobody can buy crypto Is this accurate?

Am I wrong in this interpretation? Is it, instead:

Nobody can register as a day trader (which in the US comes from trading a security multiple times a day and requires a certain balance), but buying and selling as regular investment is still allowed?

https://www.google.com/amp/s/cointelegraph.com/news/hong-kong-regulators-set-to-ban-retail-bitcoin-trading/amp

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    Why would a ban in China have an effect on you, an American? Are you living in Hong Kong? Registered as a trader there?
    – Ron Beyer
    May 22, 2021 at 3:43
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    Why does this need to apply to me to ask about it? I’m simply curious as to the nature of the restrictions imposed in another country
    – Runeaway3
    May 22, 2021 at 4:09
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    @RonBeyer why would a US law affect someone outside the US? Oh wait, they do all the time...
    – user28517
    May 22, 2021 at 4:19
  • So, you are really asking not "as an American" but "for someone subject to Chinese law"?
    – ohwilleke
    Oct 20, 2021 at 16:56

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Recently semi-official Chinese spokespersons have underscored that they consider "investment" in cryptocurrencies unsafe, and that there would be no safety net for people who gamble their life savings away. But they seem to understand they cannot stop the people from trading online.

Now Hong Kong considers a licensing requirement for cryptocurrency exchanges based in Hong Kong and to require them to accept only institutional investors -- who are presumably presumed to be more aware of the risks.

That still doesn't stop Chinese citizens from trading online, but it gets harder.

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