3 ms·
- Sell $10M gold for the sum of $10M - Buy $10M worth of Bitcoin - Transfer $10M worth of Bitcoin to country B, or just travel to country B - Convert $10M worth
by Cthulhu_ 3y ago
- Sell $10M gold for the sum of $10M
- Buy $10M worth of Bitcoin
- Transfer $10M worth of Bitcoin to country B, or just travel to country B
- Convert $10M worth of Bitcoin to local currency
That said, you'd have to do all the conversion of BTC to fiat through shady channels, as by now all of the legal / above ground exchanges report every transfer to the local and international tax offices. Second, any conversion will charge a percentage.
In theory, BTC travels freely across borders without import taxes. In practice, it's useless if not converted to fiat, and all conversions are logged and taxed.