China Offloads Seized Crypto to Offset Economic Slowdown

China Offloads Seized Crypto to Offset Economic Slowdown

Despite the country's stringent ban on cryptocurrency trading and ambiguous legal frameworks, local governments in China are increasingly using bitcoin sales to support public budgets as economic headwinds continue. Reuters reported on April 16 that many local authorities in China have hired private companies to sell digital assets, including Bitcoin (BTC), that have been seized on overseas markets. These trades are intended to help strugglin...

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