Regulation· ★★★· neutral·

China's Underground Stablecoin Market Estimated at $104–176B Despite Ban

  • —Forkast estimates China's underground stablecoin market at about $104 billion
  • —CryptoSlate puts the broader P2P crypto economy at $176 billion
  • —Demand for dollar assets shifted to P2P channels after exchange and mining bans
  • —Stablecoins offer a route around China's capital controls
Why it matters: The scale of the shadow market shows the ban has not eliminated demand for dollar-denominated assets and complicates capital-control enforcement.
#USDT#USDC
Source: Bitcoin Insider
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