EconomyChina’s crypto ban fails to stop a $176 billion P2P economy

China’s underground crypto economy is increasingly moving toward peer-to-peer stablecoin payments despite Beijing’s long-standing restrictions on digital assets. Chainalysis estimates that China generated at least $176 billion in crypto activity in the 12 months through June 2026, with 59.1% conducted through domestic P2P transfers. Stablecoin activity has surged, possibly reflecting efforts to transact outside monitored financial channels, though Chainalysis calls that explanation a hypothesis rather than proof of causation.

Chinacryptocurrencystablecoinspeer-to-peer payments

CCryptoSlate★★★☆☆2026-10-06 08:50Original