18 Oct '15, 3am

Is China Turning To Bitcoin As Yuan Devalues?

The Shanghai Composite and Shenzhen Composite both plunged roughly 30% that month and caused a stir of fear in the global economy. With the looming fear of inflation from devalued currency many markets have felt the economic shift pushing alternative international venues. However, the People’s Bank of China is requiring all banks to pay a deposit before forwarding sales to markets overseas. With these financial edicts, citizens are finding it harder to reallocate wealth within the traditional stock, bonds, and even PM markets. This is possibly why the Bitcoin volume in China is surging as U.S. dollars, and alternative currency options are seemingly viable throughout economic shakes and

Full article: http://insidebitcoins.com/news/is-china-turning-to-bitcoi...

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Is China Turning To Bitcoin As Yuan Devalues?

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