Seems asia is the least regulated area. But something will happen. Many people use Bitmex when they aren’t suppose to. Laws will develop a way to punish this.
It’s actually pretty easy to launder and hide money in crypto, but no sane person who wants a legal living would want to. That’s why I’m stressing so hard to come up with audit trails and legal incorporation schemes. If the international and euro and american regulators don’t nab the exchange, the exchange developers themselves might nab funds as punishment for ToS violation. Bitmex reserves the right to do this, and many, many people are going to have to cite an audit trail on taxes for having used a broker they weren’t suppose to, which will lead to some sort of response from CFTC eventually. I fear coinexx will be next if they do not institute a geoblock for appearances. But frankly I want an audit trail. I want to be on the right side of an audit trail, rather than having millions in unauditable money from trading activity that SHOULD be legal.
Because of the 5 mil ECP and EMSA euro regs, this makes me prefer asian brokers. But I still need to figure out some sort of corporate structure. I guess people could still register their corp with a euro broker as a non ECP, but it would still have the benefit of a euro residency passport, though people in this thread have mentioned how difficult that is. I for one am willing to become a resident let’s say of portugual, or at least panama, even thailand, but if the 2nd passport shows original origin, then I think what may be required is a ‘resident local manager’ … not a ‘nominee’…
When looking into laws for Mauritus offshore banking they do require some corps to have a registered local agent in mauritus. . but I guess the question is how to get a ‘in name only’ setup which I’m sure is quite cost prohibitive, but could be done.
The exchanges may not accept a bank in your name though, and no sane person is going to want a nominee signatory over their bank… so being able to access a forex site that allows withdraw in bitcoin is probably best… then sell the bitcoin for gold to a money manager and have the gold manager deposit cash to your bank of choice, preferably another one attached to the oversea trading corp to get tax benefit.
This would require a fairly complex legal structure but it s what I intend to do the next 12 months.