Is Bitcoin used for Bypassing Capital Controls in China? (Part 1)

  • identification and KYC requirements for both the local and offshore Bitcoin exchanges
  • buying Bitcoin in China could cause prices to rise, increasing average purchase price
  • selling Bitcoin abroad could cause prices to fall, decreasing proceeds
  • uncontrollable nature of timing, between buying and selling, and the risk of Bitcoin prices falling in the interim
  • difficulties and expertise necessary to use Bitcoin derivatives, to properly hedge against price changes
  • natural price difference of Bitcoin in China compared to USD prices abroad, which does not often follow the official CNY/USD exchange rate
  • technical skills necessary for newcomers, when it comes to transferring Bitcoins between wallets and exchanges, and the risk of loss through hacking, theft, or just beginner mistakes




Co-founder & CEO of @YourBTCC; Board Member of @BTCFoundation.

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Bobby Lee

Bobby Lee

Co-founder & CEO of @YourBTCC; Board Member of @BTCFoundation.

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