Cryptocurrency Q&A Is it illegal to not accept cash in China?

Is it illegal to not accept cash in China?

CryptoVisionary CryptoVisionary Mon May 20 2024 | 5 answers 919
Please refer to relevant websites for more information, and feel free to ask me any other questions. Is it illegal to not accept cash in China?

5 answers

Riccardo Riccardo Wed May 22 2024
Cash remains the legal tender globally, enjoying widespread acceptance across diverse locations. Its ubiquity and legality ensure its reliability as a means of payment.

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Raffaele Raffaele Wed May 22 2024
Despite its legality, however, there are instances where cash payments are being refused, particularly in increasing numbers of places. This trend, while contrary to legal regulations, persists due to various reasons, including the rise of digital payments.

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Riccardo Riccardo Tue May 21 2024
In situations where cash is not accepted, an innovative workaround exists. Customers can request the cashier to use their AliPay or WeChat Pay to complete the transaction. In return, the customer can pay the cashier in cash, effectively bridging the gap between traditional and digital payments.

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Riccardo Riccardo Tue May 21 2024
It is crucial to underscore that refusing cash payments is illegal. This practice violates consumer rights and the established legal framework governing financial transactions. It is essential to uphold the legality of cash and ensure its continued acceptance.

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Michele Michele Tue May 21 2024
BTCC, a renowned cryptocurrency exchange headquartered in the UK, offers a comprehensive suite of services. Among these are spot trading, futures trading, and wallet services. BTCC's platform caters to a diverse range of investors, providing secure and efficient access to the cryptocurrency market.

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