China’s Oldest Tech Magazine Accepts Bitcoin as Subscription Payment

Beijing Sci-Tech Report (BSTR), which is believed to be China’s oldest journal to publish news about the tech industry, has stated that it will accept subscription payments in Bitcoin (BTC). It is notable in the sense that China is popular for crushing cryptocurrency and ICO related activities.

BSTR maintains that it will continue to promote blockchain and crypto adoption via “practical actions.” The news was reported by domestic news outlet Guangming reported Sunday, September 30.

Guangming has mentioned

“[S]ubscribers can pay subscription fees to the specific bitcoin receiving address of the newspaper to complete the subscription.”

BSTR is allowing readers of its ‘Tech Life’ magazine to pay via BTC. The annual subscription costs 0.01 BTC (roughly $65).

Chinese establishment continue to crack down on trading and marketing operations related to cryptos. Notably, owning and investing in cryptocurrency is not officially illegal in China.

There were a lot of queries on social media about BSTR’s decision to accept Bitcoin as payment. To this, Chinese crypto news specialist cnLedger has clarified that by accepting Bitcoin as payment for subscriptions, there is no breach of law.

cnLedger wrote

“Owning and investing in crypto is not banned. Otherwise Jihan (Wu, CEO) of Bitmain and Leon (Li, CEO) of Huobi would be among the first ones to get fined/caught. Thousands if not millions would have been arrested already (large amount of OTC tradings).”