3 ms·
Real estate is how China allows their citizens to move money out of country. If the money is at all legitimate, there is a vehicle. I’ve been around the world,
by SV_BubbleTime 3y ago
Real estate is how China allows their citizens to move money out of country. If the money is at all legitimate, there is a vehicle.
I’ve been around the world, and I’ve been as much Chinese real estate as I’ve seen, makes me think there is very little legitimate money in crypto for this application.
- Supermancho 3y agoYou're not the only one to have seen the Chinese real estate, from the Alberta coast to Florida. If you want to move money, ofc you can[1]. There is commerce with China. If you want to avoid controls (including punitive ones), real estate is not a preferred choice. This "vehicle" took a huge hit around 2016ish[2], which is why Chinese transfers fell dramatically crashing a number of luxury markets (US locales) with it. This is still recent memory and taken into commensurate consideration. [1] https://hrone.com/blog/expats-can-get-earned-money-china-legally/ https://hrone.com/blog/expats-can-get-earned-money-china-leg... [2] https://www.wsj.com/articles/china-issuing-strict-controls-on-overseas-investment-1480071529 https://www.wsj.com/articles/china-issuing-strict-controls-o...
- Jerrrry 3y agoCrypto has three legitimate uses and a few less than legit ones: Drugs, money laundering (from China) / tax evasion, csam, ransomware, and soon, common crime.