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Topic: USDT to Bypass FX Control in China - page 2. (Read 234 times)

newbie
Activity: 33
Merit: 0
July 09, 2020, 11:27:22 PM
#1
Hi I have some family money wanted to transfer from China to US. Before for small amount it's possible but now due to COVID it's becoming impossible.

I noticed below news looks like people are using tether. Anyone has experience buying USDT in China then exchange to BTC then to USD in US? What's the transaction cost of doing this and is there any tax consequence for doing so?

https://www.coindesk.com/tether-usdt-russia-china-importers
https://www.financemagnates.com/cryptocurrency/news/tethers-red-dragon-why-usdt-is-dominating-chinese-markets/
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