“The price gap between bitcoins trading in Chinese yuan and those sold for other currencies has evaporated in recent days, highlighting the porous nature of China’s capital controls. A key driver of the price gap was China’s capital controls, which make it difficult for speculators to swap yuan proceeds from the sale of high-priced Chinese bitcoins into dollars. Analysts say the price convergence also reflects the rapid evolution of the bitcoin market, which began with technology enthusiasts but quickly expanded to include those with the financial know-how to evade China’s strict capital controls.”
http://www.reuters.com/article/2013/12/11/us-china-bitcoin-idUSBRE9BA0B020131211
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Abolish the Drug Enforcement Administration, Help The Poor Instead
Canadian gov't: Private ATMs vulnerable to money-laundering
NSA surveillance: don't underestimate the extraordinary power of metadata
Mexico’s peyote casts mind-bending spell on tourists
NSA deeply involved in drone strikes against terror suspects
U.S. immigration forms project digitizes one form, at cost of $1 billion
Economic exodus means two-thirds of Puerto Ricans may soon live in US
Scotland Yard investigates Diana slay plot as book details conspiracy
Okla. prison head gets new bullet-resistant SUV after botched execution
Confused professors shocked schools are cutting their hours to avoid Obamacare penalties
Police Raid at Deutsche Bank World Headquarters
Fearful Indian schoolchildren refuse free school meals after 22 die, dozens sickened
Most people expect to be worse off than parents – except U.S., Chinese
The Model Rockets That Need FAA Clearance to Launch
China's replica of Manhattan sits empty as the debt time bomb ticks