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A comment on China orders Bitcoin exchanges in capital city to close. Parent comment

Re:China orders Bitcoin exchanges in capital city to close by eloff on Tuesday September 19, 2017 @12:05PM (#15285839)
It is in China now. Russia too IIRC. Probably several other countries that impose capital controls.

In the west this is legal, but the bank may still ask you where the money came from under their enforcement of laws like knowing your customer and money laundering controls.

Tax agencies may also get involved if there is automatic reporting.

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Re:China orders Bitcoin exchanges in capital city to close by the_mitsuhiko on Tuesday September 19, 2017 @01:27PM (#15286700)
How is it illegal in Russia?
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Re:China orders Bitcoin exchanges in capital city to close by eloff on Tuesday September 19, 2017 @05:08PM (#15288827)
https://www.bloomberg.com/news/articles/2016-04-28/russian-l...
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Re:China orders Bitcoin exchanges in capital city to close by flatfilefan on Tuesday September 19, 2017 @06:34PM (#15289388)
this has never become a law afaik
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Re:China orders Bitcoin exchanges in capital city to close by eloff on Wednesday September 20, 2017 @09:13AM (#15293327)
Not yet anyway, laws take time. I hope it doesn't become law (and I suspect it's too extreme for that, even for Russia.) But it gives you an idea of the way things are trending there.
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