Topic: Legal Risk you should know when you invest in CHINESE BTC Stock (Read 3013 times)
mark!
August 16, 2013, 06:10:33 AM
Thanks to the informtion.
Anunnaki is more farmiliar with Chinese Law even than native people.
Anunnaki is more farmiliar with Chinese Law even than native people.
August 16, 2013, 03:13:20 AM
Incorporate offshore, get nominee services and the risk is mostly eliminated. If anyone needs help, PMme
August 15, 2013, 09:59:13 PM
China's national television- CCTV(China Central Television), has reported Bitcoin affirmatively twice this year.
I do not see any chance that bitcoin will be declared as illegal in short-mid term in China.
I do not see any chance that bitcoin will be declared as illegal in short-mid term in China.
except this has nothing to do with declaring bitcoin illegal
this is about prohibitions of unregistered capital formation, most countries have regulations regarding this, the penalties in China for ignoring these regulations can have criminal sanctions
August 15, 2013, 09:53:29 PM
China's national television- CCTV(China Central Television), has reported Bitcoin affirmatively twice this year.
I do not see any chance that bitcoin will be declared as illegal in short-mid term in China.
I do not see any chance that bitcoin will be declared as illegal in short-mid term in China.
August 15, 2013, 09:40:44 PM
You are right. Chinese law enforcement department may ignore bitcoin fundraising activity because they are not so attractive. However, once this kind of activity is reported by someone who declares that he suffers a loss from the illegal fund-raising, then Chinese law enforcement department will act immediately. As long as the government investigation starts, the manager of the Chinese BTC companies will soon repurchase the outstanding shares from investors at IPO price in order to be exempt from criminal charge.
Perhaps we don't need to guess what they think. That's a tricky question.
August 15, 2013, 09:33:40 PM
Isn't ASICMiner in China?
They were fortunate enough to evade that (at least from what we know on the forums). Their IPO took place before all the hype/fervor came to Bitcoin. Kind of makes you wonder if this ends up giving AM the edge, with all other projects unable to crowdsource funds.
However, it also does mean potential difficulties should BitFountain decide to issue more shares.
But aren't they STILL in china??
Yes, Shenzhen I believe.
I will visit ASICMINER if available.
August 15, 2013, 02:11:08 PM
You are right. Chinese law enforcement department may ignore bitcoin fundraising activity because they are not so attractive. However, once this kind of activity is reported by someone who declares that he suffers a loss from the illegal fund-raising, then Chinese law enforcement department will act immediately. As long as the government investigation starts, the manager of the Chinese BTC companies will soon repurchase the outstanding shares from investors at IPO price in order to be exempt from criminal charge.
August 15, 2013, 12:18:49 PM
Isn't ASICMiner in China?
They were fortunate enough to evade that (at least from what we know on the forums). Their IPO took place before all the hype/fervor came to Bitcoin. Kind of makes you wonder if this ends up giving AM the edge, with all other projects unable to crowdsource funds.
However, it also does mean potential difficulties should BitFountain decide to issue more shares.
But aren't they STILL in china??
Yes, Shenzhen I believe.
August 15, 2013, 12:18:10 PM
Isn't ASICMiner in China?
They were fortunate enough to evade that (at least from what we know on the forums). Their IPO took place before all the hype/fervor came to Bitcoin. Kind of makes you wonder if this ends up giving AM the edge, with all other projects unable to crowdsource funds.
However, it also does mean potential difficulties should BitFountain decide to issue more shares.
But aren't they STILL in china??
August 15, 2013, 11:15:23 AM
Isn't ASICMiner in China?
They were fortunate enough to evade that (at least from what we know on the forums). Their IPO took place before all the hype/fervor came to Bitcoin. Kind of makes you wonder if this ends up giving AM the edge, with all other projects unable to crowdsource funds.
However, it also does mean potential difficulties should BitFountain decide to issue more shares.
August 15, 2013, 11:10:58 AM
Isn't ASICMiner in China?
u are right
Maybe BTCGarden's mistake was telling everyone they are in China. It may be better if people are not aware where the operation takes place.
If they did not tell they're from China then they will be accused of hiding something or lying, and lying = scam.
Maybe BTCGarden's mistake was telling everyone they are in China. It may be better if people are not aware where the operation takes place.
BTCGARDEN has a unique weakness: it also runs a btc-rmb exchange platform. Yianding asks people to buy btc in that platform and buy BTCGARDEN stock with these btc, which makes it look like that BTCGARDEN is gathering fiat money, it's very dangerous. And other companies don't have this problemActually, it doesn't matter what BTCGARDEN gathering. Collecting fiat money or commodity goods (Bitcoin is still a goods rather than a currency in China) will be counted as disguised fund-raising according to the law.
You are right. Chinese law enforcement department may ignore bitcoin fundraising activity because they are not so attractive. However, once this kind of activity is reported by someone who declares that he suffers a loss from the illegal fund-raising, then Chinese law enforcement department will act immediately. As long as the government investigation starts, the manager of the Chinese BTC companies will soon repurchase the outstanding shares from investors at IPO price in order to be exempt from criminal charge.
Maybe BTCGarden's mistake was telling everyone they are in China. It may be better if people are not aware where the operation takes place.
BTCGARDEN has a unique weakness: it also runs a btc-rmb exchange platform. Yianding asks people to buy btc in that platform and buy BTCGARDEN stock with these btc, which makes it look like that BTCGARDEN is gathering fiat money, it's very dangerous. And other companies don't have this problemActually, it doesn't matter what BTCGARDEN gathering. Collecting fiat money or commodity goods (Bitcoin is still a goods rather than a currency in China) will be counted as disguised fund-raising according to the law.
Maybe BTCGarden's mistake was telling everyone they are in China. It may be better if people are not aware where the operation takes place.
BTCGARDEN has a unique weakness: it also runs a btc-rmb exchange platform. Yianding asks people to buy btc in that platform and buy BTCGARDEN stock with these btc, which makes it look like that BTCGARDEN is gathering fiat money, it's very dangerous. And other companies don't have this problemActually, it doesn't matter what BTCGARDEN gathering. Collecting fiat money or commodity goods (Bitcoin is still a goods rather than a currency in China) will be counted as disguised fund-raising according to the law.
Maybe BTCGarden's mistake was telling everyone they are in China. It may be better if people are not aware where the operation takes place.
BTCGARDEN has a unique weakness: it also runs a btc-rmb exchange platform. Yianding asks people to buy btc in that platform and buy BTCGARDEN stock with these btc, which makes it look like that BTCGARDEN is gathering fiat money, it's very dangerous. And other companies don't have this problem
in China, nonfinancial companies can't even borrow money from each other, it's also illegal
Maybe BTCGarden's mistake was telling everyone they are in China. It may be better if people are not aware where the operation takes place.
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