How about an exchange in international waters?

bitart

hero member

Activity: 1442

Merit: 629

Vires in Numeris

Quote from: Kprawn on May 03, 2018, 11:58:51 AM

Any exchange dealing with fiat conversion would have to adhere to some kind of AML/KYC regulations, so no amount of water

will stop people from dealing with that. They will also have to link to some Bank for money transfers, so that would void

international protection. As previously mentioned... the only way to do that would be to create a decentralized exchange that

are not linked to the Banking system. Roll Eyes

Does a decentralized exchange means that you can't exchange the bitcoin/alts to fiat and vice versa, but you can only exchange bitcoins to alts and back? If you don't link to banks, you don't have to follow their rules. If there's a centralized exchange (and not linked to banks) the authorities still can put a pressure on the owner of the centralized exchange. But if it's a decentralized one, authorities can't find a single person to stop the exchagne.
Do I understand it correctly?

Meysa_richa

member

Activity: 458

Merit: 10

I do not think it's necessary to make such an exchange, we just do the usual exchanges and believe me that's not too much of a problem.

Kprawn

legendary

Activity: 1904

Merit: 1073

Any exchange dealing with fiat conversion would have to adhere to some kind of AML/KYC regulations, so no amount of water

will stop people from dealing with that. They will also have to link to some Bank for money transfers, so that would void

international protection. As previously mentioned... the only way to do that would be to create a decentralized exchange that

are not linked to the Banking system. Roll Eyes

OmegaStarScream

staff

Activity: 3500

Merit: 6152

You're not willing to pay taxes but willing to pay for the ship, maintenance etc.? You could just build a decentralized exchange so nobody will be able to take it down.

Bitmore1

jr. member

Activity: 57

Merit: 4

Start off by admitting I am ignorant on the subject, but here is a crazy idea;

Would it be possible to have a ship in international waters as the location of an exchange to avoid having to pay capital gains or income tax on bitcoin or crypto? Would that be legal?

You might have every country with a navy trying to sink it,...

Topic: How about an exchange in international waters? (Read 130 times)