China’s Crypto Market: Digital Yuan as an Alternative to Private Cryptocurrencies

... their business abroad, primarily to the U.S., Kazakhstan and Russia, the next three bitcoin-mining leaders. The financial risks, to which Chinese regulators responded, stemmed from the threat of rising inflation triggered by exchange of appreciated bitcoin for yuan rather than from the mining itself. Experimenting with the digital yuan Aleksei Kuznetsov: Financial Bubbles in the Coronavirus Era Back in September 2017, China declared cryptocurrency ICOs illegal since these are not legal tender. It was then when China began preparations to shut down platforms trading in ...