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0 pointsjaggederest12y ago0 comments

There are capital controls in place in Cyprus, it's illegal to move more than a certain amount of money out of the country. Thus you can't just move your money to CHF or USD.

Clearly, if you need to move illicit funds around, Bitcoin is a reasonable way to do that.

0 comments

relix12y ago

Why wouldn't you be able to just go to an exchange office and buy CHF or USD? If you have access to your money, which I'm assuming you do, else you can't buy bitcoins anyway, there's really no reason why you wouldn't be able to exchange it in another currency.

jaggederestOP12y ago

Follow me here:

a) it's illegal to 'just go to an exchange office and buy CHF or USD'. Literally can't do that at the moment

b) You can still buy bitcoins from people inside Cyprus

c) then you can convert them back at some later date, to whichever currency you prefer, outside the currency control area.

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