Let be realistic CNY is a different social os, fraught with issues,
however, they are less likely to kill an enterprise that makes them money and gives the potential openings in emerging areas and outs they want.
however, they are less likely to kill an enterprise that makes them money and gives the potential openings in emerging areas and outs they want.
Bitcoin is fully illegal in China, and our negotiations with the local government so far have been without success.
Either way let's be realistic here. Most of our customers are located in countries such as US, Europe and others. Running away to Vietnam or China would make it basically impossible for us to receive or send funds to anyone in those countries.
back to JPY....a nightmare for the US to try and enforce anything at all or at least quickly and not always on the friendliest terms with regional neighbors
Japanese government is friendly to US, and also implements things such as FACTA. Also the US government can pressure any bank worldwide by threatening of cutting them off USD. A bank in any country that can not transfer USD anymore is of no use to anyone. US government has been doing this so far to get accounts held by "terrorists" (people linked to North Korea, mafia, actual terrorists, etc) and while Bitcoin is still too small to get this kind of response, it's a good idea to stay friendly with the US govt. at this point and let Bitcoin grow and gain in legitimacy.
Anyway none of this advice is actually applicable as it would shut us from our customers, makes us unable to hold any USD and potentially limit our transfer solutions to non-conventional methods (liberty reserve, webmoney, etc...).
We are doing our best to see Bitcoin grow as an actual alternative to the existing system, but until Bitcoin is large enough to stand on its own, we need the current system to accept and support us.
Ok necroposting much, but may I point out how that volume on "Bitcoin is fully illegal in China," btcnCNY 42K v Gox 32K last 24Hrs
