I have money in a UK bank account and I would like to send it to somebody in Malaysia.
It seems simple enough to go GBP -> BTC then BTC -> MYR.
But the recipient is unwilling to open any crypto related accounts currently and, due to AML, I cant use, for example, Local Bitcoins combined with their local bank account (as it's in a different name and would fail verifiation).
Is there any other way currently? Or must I wait for the industry to mature further?
given the conversion fees (to buy and sell bitcoin on each side) wouldn't it just cheaper to use a bank wire transfer? unless the banks are
really screwing you on the exchange rate. this plan might make more sense if you already had bitcoins (or the recipient wanted them) but otherwise, i'm not so sure.