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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 w
by eloff 9y ago
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.
- the_mitsuhiko 9y agoHow is it illegal in Russia?
- eloff 9y agohttps://www.bloomberg.com/news/articles/2016-04-28/russian-law-would-send-bitcoin-users-to-jail-as-cybercriminals https://www.bloomberg.com/news/articles/2016-04-28/russian-l...
- flatfilefan 9y agothis has never become a law afaik
- eloff 9y agoNot 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.