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Government recently imposes new regulation on how much money each individual could exchange from YUAN to Dollar each year(50k usd, to be specific), that explici
by eva1984 10y ago
Government recently imposes new regulation on how much money each individual could exchange from YUAN to Dollar each year(50k usd, to be specific), that explicitly prevents the exchanged currency to be used in investments such as real estate and US stocks.
This might increase the speculation that Yuan will devalue even further this year. Bitcoin is currently harder to regulate and could be use a way to send money oversea, bypassing the 50k quota. But honestly, I don't think there are a lot of them though. Maybe someone just tries to ride the trend.