Epoch Times: How Chinese Use Bitcoin to Funnel Money Out of the Country

How Chinese Use Bitcoin to Funnel Money Out of the Country

 

theepochtimes.com

GettyImages-475483835-674x45022 billion dollars was reportedly spent by Chinese buyers on US real estate according to the NAR, just how did they get their money out of China?

Since the maximum amount of foreign currency that can be exchanged is still set at $50,000 per person, people often ask how huge sums of money are transferred. The notion of suitcases being stuffed with cash is a little dated, although I’m sure that on some level it’s still being used, but why would anybody with no reason to have that much cash, run the risk of being caught red handed?

The digital currency provides a secret way for ordinary Chinese to get money out of the country. The article on Epoch Times shows how technology is paving the way

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Feel free to give me, your trusted local real estate professional, a call at (905)940-3599 or email me at info@samjia.com for more information.

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