@Bharti
Report finds $50 billion of cryptocurrency moved out of China
Over $50 billion of cryptocurrency moved from China-based digital wallets to other parts of the world in the last year, pointing to possibilities that Chinese investors are transferring more money than allowed out of the country, a new report claims. Chinese citizens are only allowed to buy up to $50,000 of foreign currency a year at a financial institution. In the past, wealthy citizens have circumvented the limit through foreign investments in real estate and other assets. But the government has cracked down on these methods, according to a report by Chainalysis, a blockchain forensics firm
4 comments
My God so much money.
This is one of the negative effects of the Cryptocurrency. In other words Cryptocurrency is the currency, mainly for illegal activities. As you know India bans Cryptocurrency in 2017 after failure of Monitisation.
In china rules for taking out money are tough.
That's why they are using Cryptocurrency to defeat the rules. I always said Cryptocurrency is mainly for illegal activities.