[2016-04-26]Japanese Firms Hit by China’s Capital Control May Flock to Bitcoin

[Blawpaw]

Japanese Firms Hit by China’s Capital Control May Flock to Bitcoin

As it becomes harder for the Chinese to move funds in and out of the country over the past few months, all companies dealing with Chinese subsidiaries will be affected at some point. For Japanese firms, that boiling point was reached a few days ago, as their subsidiaries can’t properly pay loans, dividends and compensations to their Japanese parent enterprises.

In some cases, these capital control measurements have resulted in billions of yen not being repaid to Japanese parent firms. Although there is a lot of backlash...

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[aso118]

Japanese Firms Hit by China’s Capital Control May Flock to Bitcoin

As it becomes harder for the Chinese to move funds in and out of the country over the past few months, all companies dealing with Chinese subsidiaries will be affected at some point. For Japanese firms, that boiling point was reached a few days ago, as their subsidiaries can’t properly pay loans, dividends and compensations to their Japanese parent enterprises.

In some cases, these capital control measurements have resulted in billions of yen not being repaid to Japanese parent firms. Although there is a lot of backlash...

read more

I am not sure if firms would be switching to bitcoins to avoid capital controls. Switching to bitcoins and sending them out will constitute violation of capital controls and would be a crime.