$50 billion moves out of China via crypto

The Chinese currency system is a very limited and prohibitive one with individuals banned from buying more than $50,000 per year of foreign currency with Chinese RMB. Thus, it is not allowed to be traded freely on the open market. However, the movement of some $50b out of China(Capital flight) signals that some are using crypto to get around this rule.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s