Crypto flight

D

dealmaker

Crypto flight

A new report from blockchain forensics firm Chainalysis shows more than $50 billion in cryptocurrency has been moved out of China in the last year. This suggests Chinese investors have been transferring more money out of the country than they are allowed; wealthy citizens previously used loopholes involving real estate and other assets, but the authorities have been cracking down on those. CNBC
 
dealmaker said:
Crypto flight

A new report from blockchain forensics firm Chainalysis shows more than $50 billion in cryptocurrency has been moved out of China in the last year. This suggests Chinese investors have been transferring more money out of the country than they are allowed; wealthy citizens previously used loopholes involving real estate and other assets, but the authorities have been cracking down on those. CNBC
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Likely that "authorities cracking down"... are waaaay behind the curve.

Cryptos have been used for years by those wishing to hide their financial dealings from the eyes of "big brother".
 
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China knows that with 1.4billion people there are always going to be leaks here and there, both with money flight and online sites etc that people shouldn't be reading because of the great Firewall.

But the Chinese government aren't dummies so they understand they cannot stop everything. So as long as those leaks are just that, little leaks here and there, the government is fine. But if a little leak starts to become a big flood then there's a problem and the jack booted goons are sent in. Charming country...
 
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