I work at a cryptocurrency exchange.
The more I learn about the inner workings of this industry, the more I realize that global capital flows are far more complex than most people imagine.
Many people see cryptocurrencies simply as speculative assets.
In reality, however, they also function as infrastructure for moving capital across borders.
This becomes particularly clear when observing the movement of Chinese money.
China maintains some of the strictest capital controls in the world.
Individuals are generally limited to transferring about $50,000 per year overseas.
Yet in practice, Chinese wealth is spread across the globe—London real estate, Singaporean banks, luxury apartments in Dubai.
So the question arises: how does that money leave China?
One part of the answer lies in cryptocurrencies.
