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Old Posted Aug 18, 2017, 5:25 PM
LouisVanDerWright LouisVanDerWright is offline
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Join Date: Jul 2012
Posts: 4,419
Originally Posted by marothisu View Post
Nothing new - they have been limiting the amount of money regular people can convert for USD. Had a small fight about this with my girlfriend actually haha - Her parents wanted to convert a bunch of money to USD but the Chinese government capped it at some thousands of dollars per year per account. They are afraid of the capital flight.
Rumor is this is what is driving extreme volatility in Bitcoin and other cryptos. One of the few outlets to sneak money out of China that you can't really clamp down on.
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