Not Just China: P2P Bitcoin Trading is Also Soaring in These 9 Countries
As Chinese exchanges put BTC withdrawals on hiatus, LocalBitcoins is seeing new all-time trading highs – and not just in China. New Trading Highs Around The World. The knock-on effect of investors flocking to the peer-to-peer marketplace is seemingly creating unprecedented demand in markets such as Canada, Chile, Colombia, New Zealand, Saudi Arabia, Sweden, Mexico, Turkey and, of course, Venezuela. In fact, global P2P trading on LocalBitcoins has been seeing a continued upwards trend across the board. The Chinese market itself meanwhile recorded its largest ever trading volumes in the week....
Related News
PRESS RELEASE. October 2021, leading Crypto service comparison site – Cryptowisser, take an in-depth look at the recent crypto ban in China as well as several other countries who legally restrict crypto currency in some way and why.
As the Cryptowisser report states, there are over 15 countries where Crypto currency is restricted or outright banned, however some are stricter than others and make it entirely illegal to own any crypto assets. For instance, the report lists Bangladesh as a country that forbids owning any form of cryptocurrency, despite this, it is also....
Europe’s top securities regulator has warned that soaring inflation could drive investors to cryptocurrencies. Stressing that there is “an imbalance” in how each EU country deals with crypto, the regulator calls for a common regulatory framework across European countries. Inflation Could Drive Investors to Crypto, EU Regulator Says The European Securities and Markets Authority (ESMA), the EU’s top securities markets regulator, has warned that soaring inflation may drive retail investors into cryptocurrencies, Bloomberg reported Thursday. The regulator has also....
In significant news coming out of China, China’s central bank – the People’s Bank of China – has revealed that it carried out on-site checks on major Chinese bitcoin exchanges in Beijing and Shanghai. Bitcoin’s soaring value and trading in China has evidently caught the eye of authorities who are now clamping down on capital outflows that they believe is taking place via bitcoin, while the yuan continues to depreciate. In a public notice, the Shanghai branch of the PBOC revealed it carried out spot checks today (Wednesday) on BTC China. A roughly translated statement reads: The People’s....
Bitcoin is a new way to think about money, and there are people in places all around the world who could use it for purposes other than speculation. Maybe they don't have faith in the financial system of the country they live in. Or maybe national regulations put limits on what kind of assets they can invest in. Bitcoin could assist with these and other economic problems in some countries in particular. For a country's currency to be successful, its citizens must believe in the good faith and credit of its government. Whether it is dollars, pounds or euros, money has value in part because....
It may not be such a surprise that more technologically advanced nations would be more open to the use of Bitcoin inside their borders, as well as developed countries would accept Bitcoin more than developing countries. Why? Developing countries are still continuing to encourage their own local economies to grow, and do not want Bitcoins or any other types of cryptocurrency not backed by their respective governments to get in the way. This comes after the fact that China, India, and Thailand has discouraged and sometimes outright banned the purchase and selling of Bitcoins to their....