Problem -> He's restricted on capital flight from China (small number 50,000$ a year i think).I'm moving to asia soon, starting with malaysia
now AdvCash has banking problems how do you do it today ?China is seemingly supported by Advcash, therefore he could onramp using it and then either buy crypto there, or use advcash dollars to buy it using one of the many no-kyc exchanges.
https://www.bestchange.com/bitcoin-to-advanced-cash.html
The main difficulty would be to swap CNY for USD however, but that's a different problem.
Yes, but the rules in China are that you cannot use it. China has a very close eye on anybody with more than 20M USD and they do all to make sure the money does not leave the country. Crypto was banned mainly because of this.Hey @daniels27, you've raised an important point about the complexities of buying crypto in China, especially with regulations around moving money out of the country. It's crucial for individuals to understand and comply with local laws and regulations regarding cryptocurrency transactions.
I think it's informative to make the distinction here about crypto in China. It's a one-way street! I wrote about this before here: How to buy crypto in China and several times.Yes, but the rules in China are that you cannot use it. China has a very close eye on anybody with more than 20M USD and they do all to make sure the money does not leave the country. Crypto was banned mainly because of this.
I explained in my Bio what I do about one year ago (May 2023) here:Then how about you pay your cryptos to JohnnyDoe's friend and he gives Yuan to your factory?
I'm not sure if your friend solved his issue, but this article was pretty interesting. It was sent to me by one of my suppliers, whom I had asked if he was interested in selling crypto to one of his brethren. He didn't say "no." He just "ignored" the question, but today, he replied to my earlier question with this Coindesk articleCan anyone write a brief guide on how to do that in the most practical way? For a Chinese guy who has money in China and wants to buy crypto.
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