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omcnoe | 4 months ago

China notoriously has intense capital controls. It's difficult for ordinary Chinese citizens to take capital out of the country. CS2 items can be bought and sold in both USD and RMB, and can be transferred between Chinese and international accounts. It's not about Steam wallet balances.

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EZ-E|4 months ago

Interesting. I'm curious though, assuming I am Chinese and I trade knives for USD - where would I be able to receive USD to evade capital control? Surely not my bank account or Steam wallet. Or is it for people with bank account in both countries? But in that case crypto could be more convenient? I'm puzzled

omcnoe|4 months ago

Yes you would need to receive in a foreign USD bank account outside of China, the whole goal is to get the capital out of China and into a foreign account. Cryptocurrency transactions/exchanges are illegal in China so that's definitely not convenient! Meanwhile you can buy CS2 items with any ordinary payment method.