With the value of the Chinese Yuan (CNY) weakening due to high interest rates, there are a lot of people in China using capital flight as a means to move their money out of China to secure their funds in other currencies overseas. As the CEO of the popular bitcoin exchange BTCC in China, Bobby Lee says that people can use bitcoin to determine the black market rate of CNY saying, “Bitcoin has no limits. You can go in and out all you want. It’s a really fascinating topic.”
Read more: http://bitcoinx.io/news/articles/btcc-exchange-ceo-bobby-lee-shows-how-bitcoin-can-be-used-for-capital-flight/
Topic: [2016-04-17] BTCC CEO Bobby Lee shows how bitcoin can be used for capital flight (Read 268 times)
April 17, 2016, 02:32:40 PM
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