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As per CNBC, based on a report by Chainalysis, a firm that specialize in crypto analysis, Chinese users transferred more than $50 billion in crypto from their Chinese-based digital wallets to another parts of the world. This move maybe caused by the ongoing trade war with the US and the pandemic that both weaken Yuan, the China's national currency. The law in the country prohibits citizens of China from buying more than $50,000 in foreign currencies, but with crypto they able to circumvent that.