China capital controls bitcoin

1. The Crackdown Is Hurting Foreign Exchange Deals.
2. Bitcoin Is Highly Traceable!
3. Are Chinese Capital Controls What’s Pushing Up Bitcoin Price??
4. bitcoin streaming money.
5. China bitcoin arbitrage ends as traders work around capital controls?
6. bitcoin price in stock market!

Recently, as bitcoin has grown in popularity, more sophisticated arbitrageurs have stepped in. Early this month, Chinese media began reporting that investors from Wenzhou, the east coastal city known for its entrepreneurial and speculative zeal, were piling into bitcoin. The most common is falsified trade invoices, which disguise movements of speculative cash as payments for goods and services.

Indeed, unexpectedly strong export growth in November reignited suspicions that official data had been inflated by fake invoicing.

BTC Remains The Only Viable Option To Avoid Capital Controls In China

Those suspicions centered on the conversion of dollars to yuan in order to profit from appreciation of the Chinese currency. But the same technique has been used to move funds in the other direction. A Shanghai-based fixed income fund manager dismissed capital controls as a barrier to shifting money around.

Banks Updated. China-focused cryptocurrency exchanges are not licensed on the mainland, but individuals can easily open accounts and trade online if they upload details of their Chinese identity cards.

Exchanges such as Binance and MXC bar the use of yuan and only allow trading between cryptocurrency pairs, such as bitcoin versus the dollar-linked stablecoin tether USDT. But Chinese investors can use peer-to-peer markets to buy USDT using yuan, with payment made via bank cards or online transfers. This process does not violate Chinese laws.

But Chinese individuals appear to be moving capital overseas under official quotas to obtain their USDT, under the guise of making medical or other legitimate purchases, a regulatory source told Reuters.