RATE Group | China Saw $11.4 Billion in Crypto-Based Capital Flight Last Year
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China Saw $11.4 Billion in Crypto-Based Capital Flight Last Year

13 Jan China Saw $11.4 Billion in Crypto-Based Capital Flight Last Year

Posted at 03:25h in Bitcoin News by

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China Saw $11.4 Billion in Crypto-Based Capital Flight Last Year

On January 8, China-based blockchain security firm Peckshield published its “2019 Global Digital Asset AML Research Report” noting a variety of crypto trends throughout the year. According to the study, cryptocurrency-based capital flight stemming from China was around $11.4 billion in 2019. Peckshield’s research recorded a number of illegal or otherwise unregulated transactions over the last few years.

Also Read: Mining Report Highlights China’s ASIC Manufacturing Improvements and Dominance

International Unregulated Capital Flow Using Cryptocurrencies Surges in 2019, While China Saw $11.4 Billion in Capital Flight Crypto Transactions

In January 2017, the Chinese government and the People’s Bank of China (PBoC) banned domestic cryptocurrency exchange operations. However, despite the ban, Chinese citizens have been able to access digital assets via over-the-counter platforms and offshore exchanges. Peckshield, a blockchain research firm from…

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