the Due to the favourable situation of the market currencies are the investment in Crypto, with the Chinese Yuan (CNY) greatly increased. The Chinese crypto-trade is experiencing a record low, and despite Forbidden to make a Comeback. This testifies to the ingenuity of the Chinese Bitcoin Fans and indicates the General focus of the Chinese economy on Bitcoin.
Polina Khubbeeva
19. March 2019BTC$3,992 m,74 0.23%part Facebook Twitter LinkedIn xing mail
China’s crypto-buy investors have been turning to Bitcoin. A Coinlib detection of the crypto-market at the statement of Money Flows of the past 24 hours, a total investment of Yuan in BTC of 164 million US dollars.
Yuan second strongest Fiat currency to US dollars
After the US Dollar and the Brazilian Real and the Yuan is the second strongest Fiat currency on the market. Most of Yuan flow into the Bitcoin, but also Ether (75 million dollars) and Stellar (19,94 million US dollars) benefit from Chinese investments.
the total prohibition of ICOs, and crypto-currencies, Bitcoin Mining currencies allowed
Despite the rise in investment in China, the trade with Crypto, as well as ICOs, since 2017 is prohibited. While the state Blockchain and Bitcoin more and more as a tool for management, Innovation and control are realized, the country is trying, for example via a network lock and to prevent the disclosure obligations for investments in decentralized currencies. This is justified with the protection of investors.
a record low in August, 2018
That the Chinese crypto-trade is not regulated to completely erasable, experts since the record low of Chinese crypto-investments in August 2018 (BTC-ECHO reported). At that time, the share of the Chinese traders in the Bitcoin market amounted to only one percent. In contrast, the Yuan before the wave of new Regulation in the autumn of 2017 had contributed to more than 90 per cent of the BTC trade volume.
With VPN and relocation against surveillance measures
maneuvers On the crypto-hostile climate in the country, Chinese investors are reacting with more and more skillfully evasive. The decentralisation of own business via Peer-to-Peer solutions. On the other hand, the investors defy the surveillance measures with a VPN, you will blocked web pages can access. Moreover, there is to be evasive movements to Hong Kong.
In view of the increased investment in Yuan do not seem to grasp the regulatory measures of China as comprehensive as planned. The interest of the government of Bitcoin and Blockchain can’t be without is a greater awareness of the possibilities of crypto-currencies in the population is to be maintained – especially since the Chinese economy is in growth and differentiation in the financial market.
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