{"id":34852,"date":"2021-01-17T11:53:40","date_gmt":"2021-01-17T09:53:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34852"},"modified":"2025-08-28T22:30:12","modified_gmt":"2025-08-28T19:30:12","slug":"report-over-17-5-billion-moved-out-of-china-via-cryptocurrencies-in-2020","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/report-over-17-5-billion-moved-out-of-china-via-cryptocurrencies-in-2020\/","title":{"rendered":"Report: Over $17.5 billion moved out of China via cryptocurrencies in 2020"},"content":{"rendered":"<p>Unregulated capital outflow from China via cryptocurrencies in 2020 reached $17.5 billion, writes <a href=\"https:\/\/news.8btc.com\/more-than-17-5-billion-in-cryptocurrency-moved-out-of-china-in-2020\" target=\"_blank\" rel=\"noopener noreferrer\">8btc<\/a> citing a <a href=\"https:\/\/coinholmes.com\/static\/pdf\/1.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">report<\/a> from PeckShield.<\/p>\n<p>Compared with 2019, the figure rose by 51%.<\/p>\n<p>According to researchers, capital outflows from the country via cryptocurrencies over the last three years amounted to more than 1.5% of China&#8217;s foreign-exchange reserves, totaling $3 trillion.<\/p>\n<p>According to PeckShield, the largest amount of Bitcoin was moved out of China in March 2020 \u2014 more than 172,115 BTC. The monthly peak outflow of $2.5 billion was recorded in December, when the price of the first cryptocurrency hit its yearly high.<\/p>\n<div id=\"attachment_122233\" style=\"width: 682px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-122233\" class=\"wp-image-122233 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-66.jpg\" alt=\"Report: In 2020, more than $17.5 billion moved out of China via cryptocurrencies\" width=\"672\" height=\"428\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-66.jpg 672w, https:\/\/u1f987.com\/wp-content\/uploads\/2-66-300x191.jpg 300w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/p>\n<p id=\"caption-attachment-122233\" class=\"wp-caption-text\">Volume and value of Bitcoin withdrawn from China by month. Data: PeckShield.<\/p>\n<\/div>\n<p>Researchers noted that actual sums of unauthorized capital flight via digital assets exceed those cited in the report. They accounted for movements between several major exchanges, whose users are predominantly Chinese citizens, to major overseas platforms.<\/p>\n<p>Beyond capital flight, the report reviews major fraud cases in the cryptocurrency industry over the past three years. In 2020, losses from such incidents totaled $3.2 billion. This is lower than the previous year, although the number of frauds rose sevenfold.<\/p>\n<p>Last year, Chainalysis researchers concluded that stablecoins\u2014primarily Tether (USDT)\u2014are popular for <a href=\"https:\/\/u1f987.com\/en\/news\/chainalysis-analyzes-east-asia-on-chain-activity-chinese-capital-flowing-into-usdt\">capital outflows from China<\/a>.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unregulated capital outflow from China via cryptocurrencies in 2020 reached $17.5 billion, according to 8btc citing a PeckShield report.<\/p>\n","protected":false},"author":1,"featured_media":34853,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[133,1145],"class_list":["post-34852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-china","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"34","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=34852"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34852\/revisions"}],"predecessor-version":[{"id":34854,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34852\/revisions\/34854"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/34853"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=34852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=34852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=34852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}