Why does our country not allow the existence of virtual currency trading platforms?
I thought about a question a long time ago.
The country controls foreign exchange so strictly every day. A group of people who deal in currency buy BTC on one side and turn it into USD to go abroad, and the country can't control it at all.
Can such a thing that poses a huge threat to foreign exchange control be allowed to exist?
Everyone knows what happened later.
Virtual currency trading was banned on September 30, 2017.
Some people say that the country's foreign exchange did not decrease during this process, so there was no impact.
It has no impact when the amount is small, but when the amount is large, more BTC held in China is sold abroad, and someone must buy back BTC from abroad. People abroad don't accept RMB. At this time, foreign exchange will be used.
If you can't figure it out, think about why the law stipulates that each person cannot carry more than 31.25 grams of gold when leaving the country. Taking gold away doesn't seem to affect foreign exchange.
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