Quote from: yoseph on October 21, 2018, 11:35:22 PM

Quote from: arbifahrozy on October 21, 2018, 05:35:26 PM

It seems that the Chinese policy strictly prohibits the use of wealth outside of China, indicating that the Chinese government is aggressively improving the economy and corruption in China. especially with the existence of crypto, the rich dichina could accumulate his wealth in crypto .

I think the government thought about everything thats why they moved ahead to ban cryptos in China in the first place but I fail to see how they are going to threaten the TAX havens.

Agreed. They see the ability of the US/IRS to tax their citizens' assets/income globally due to the dollar-based intl banking system and want the same power. Chinese law already states that they can tax assets/income globally but they have no way to enforce it, especially in tax havens. I imagine their only recourse is some sort of extra-legal method where they *somehow* identify foreign assets and use domestic pressure (on the targets' domestic business, assets, etc) to get targets to pay up. That seems like a lot of work and probably only realistic for the top offenders. Still, I wouldn't want to be on the top of that list.