3 ms·
Chinese Yuan is not a freely convertible currency, each Chinese individual can convert their CNY to a foreign currency up to 50k USD value, the conversion proce
by yftsui 5y ago
Chinese Yuan is not a freely convertible currency, each Chinese individual can convert their CNY to a foreign currency up to 50k USD value, the conversion process is tightly reviewed.
If banks start offering crypto, they are essentially offering CNY -> Crypto -> USD, the regulation is being circumvented hence they are not happy.
- deleted 5y ago[deleted]
- MomoXenosaga 5y ago"the conversion process is tightly reviewed" In my country the government is very, very interested in where your money comes from. Please show me your receipts going back 5 years... I do find it amusing crypto is so very often associated with tax evasion and criminal activity.