Quote:
Originally Posted by bootsnixon
Cryptocurrencies are borderless though. Some exchanges are attempting to work within the regulations of all countries they offer their services to. I think that is a good thing. Other exchanges simply work within the regulations of the country they are based out of. This does not make them shady.
Kucoin is one of the largest exchanges in the world and I believe, is considered quite reputable. It is based out of Singapore and it's business model does not require kyc. It could care less if Canada enacts the Emergency Measures Act nor would it know if crypto's were coming from there.
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Yes, if you move your crypto out of Canada obviously the Canadian Government cant control it but then you have to move with it, you cant get it back into Canada without either declaring it or rolling it tightly into plastic baggie and shoving as much as possible up your jacksy, now I worked with a kid in youth custody who was renowned for 'hooping' (as it is known in those circles) a rolled up copy of Penthouse into the jail, but even with that prodigeous ability were talking at best a few tens of thousands.
The issue in turning crypto into fiat is the same issue as turning drug money into useable cash, it is easy to buy and sell drugs, the hard part is legitimising the drug money, as soon as you want to open a bank account, buy a car or a house the Government is involved, again there are ways around this if you are a drug dealer but you pay a fortune for that, 50% of drug money is used to pay for the laundering process