China Threatens Overseas Tax Havens, Will Investors Flock to Crypto?Since early 2018, the government of China has tightened policies targeting millionaire investors in the country holding their wealth overseas to avoid large taxes, and it may lead local investors to alternative assets like crypto.
Chinese investors rely on the Swiss offshore banking industry, Hong Kong real estate market, and foreign stock markets to hoard millions of dollars worth of properties, assets, and cash outside of mainland China.
But, local financial authorities have started to crackdown on investors that amass significant wealth in overseas markets.
Will Investors Move to Crypto?
https://www.ccn.com/china-threatens-overseas-tax-havens-will-investors-flock-to-crypto/ Blockchain is an open ledger! And if you manage to prove the connection between a person and a wallet, then all his money will be in full view.
I think they will do it to reduce the tax. Blockchain really help a lot in some things but also will affect a lot to some things. But this is a great technology. I hope to have someone create a new blockchain technology and will minimize the negative things that Blockchain is bringing to the world.