btctraderr (OP)
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December 28, 2013, 06:22:42 AM |
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So.....the problem is that there are no ways to fund the exchanges on the mainland, what if you use a Hong Kong bank account or if BTCchina or OKcoin setup in HK? They can have an RMB denominated account which is available at most institutions and use that. Any problems here?
*Mainlanders sending RMB to HK *Bank is located in HK *Deposits/Withdrawals can be received and processed without being subject to the rules on the mainland.
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empoweoqwj
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December 28, 2013, 06:27:50 AM |
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So.....the problem is that there are no ways to fund the exchanges on the mainland, what if you use a Hong Kong bank account or if BTCchina or OKcoin setup in HK? They can have an RMB denominated account which is available at most institutions and use that. Any problems here?
*Mainlanders sending RMB to HK *Bank is located in HK *Deposits/Withdrawals can be received and processed without being subject to the rules on the mainland.
Try it and find out
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HairyMaclairy
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December 28, 2013, 06:31:01 AM |
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Hong Kong is treated as a foreign country.
Capital controls on sending funds to Hong Kong are effectively the same for ordinary mainlanders as sending the money direct to the USA.
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BTCisthefuture
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December 28, 2013, 07:33:19 AM |
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I don't know the answer on this personally but if it's something that would work than surely these exchanges are going to look into that and set up shop in Hong Kong if that would solve their problems.
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empoweoqwj
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December 28, 2013, 08:42:32 AM |
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I don't know the answer on this personally but if it's something that would work than surely these exchanges are going to look into that and set up shop in Hong Kong if that would solve their problems.
Clearly if HK is treated as a foreign country, then setting up shop in HK wouldn't be the answer, because of the currency controls in and out of China. The Chinese exchanges want(ed) mainland Chinese customers.
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Honeypot
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December 28, 2013, 09:51:43 AM |
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HK is china's bitch. No one is deluded enough to think something this big could remain independent.
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empoweoqwj
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December 28, 2013, 10:30:53 AM |
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HK is china's bitch. No one is deluded enough to think something this big could remain independent.
"Hong Kong is treated as a foreign country. Capital controls on sending funds to Hong Kong are effectively the same for ordinary mainlanders as sending the money direct to the USA. " Self-explanatory to the extreme.
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neutralist
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December 28, 2013, 03:06:55 PM |
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Hong Kong is an independent country like Taiwan
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empoweoqwj
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December 29, 2013, 04:27:51 AM |
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Hong Kong is an independent country like Taiwan
We are opening a can of worms here ..... ask China whether they think Taiwan is independent
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HairyMaclairy
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December 29, 2013, 06:08:58 AM |
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Hong Kong is an independent country like Taiwan
We are opening a can of worms here ..... ask China whether they think Taiwan is independent Better yet, ask Taiwan with China in the room.
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LiteCoinGuy
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In Satoshi I Trust
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December 29, 2013, 11:26:31 PM |
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Hong Kong is an independent country like Taiwan
We are opening a can of worms here ..... ask China whether they think Taiwan is independent maybe we can use an exchange in Tibet
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empoweoqwj
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December 30, 2013, 02:17:14 AM |
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Hong Kong is an independent country like Taiwan
We are opening a can of worms here ..... ask China whether they think Taiwan is independent maybe we can use an exchange in Tibet Again, ask the Chinese first Just saw some news overnight - "Taiwan competitors aim to capitalize on Bitcoin ban in China" - China Post http://dlvr.it/4bVJhg Bring it on Taiwan!
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HairyMaclairy
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December 30, 2013, 04:25:13 AM Last edit: December 30, 2013, 04:38:21 AM by HairyMaclairy |
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BTC's location in the Shanghai FTZ does make it interesting because I think the foreign currency controls are not supposed to apply there. So the real question is what rules apply in the FTZ? *edit* did some digging - transfers between domestic accounts and FTZ accounts will be treated as cross border transactions so no opportunity for regulatory arbitrage. http://news.xinhuanet.com/english/business/2013-12/03/c_132936829.htm
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kostja
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December 30, 2013, 11:06:01 AM |
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