New China Banking Rule – How to sell or transfer Bitcoin, Ethereum, digital currency, buy yuan renminbi or dollars? 中国在美国买卖,转让和持有比特币,以太网,加密数字货币


The People’s Bank of China (PboC) on Monday 9.4.2017 banned all initial coin offerings or ICOs of crypto-currencies.

The Chinese bank said, according to a translation, regarding digital currencies like Bitcoin and Ethereum, they are “not issued by the monetary authorities… do not have legal status equivalent to money, and can not and should not be circulated as a currency in the market use.”

The language in the pronouncement is so broad that according to some interpretations, all transactions involving the buying and selling of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and all the others. Even the usage or ownership of these digital cryptocurrencies may now be illegal in China, including changing fiat currency to crypto or crypto to fiat.

So, how can Chinese buy or sell bitcoin, Ethereum or crypto currency they currently hold?
Zhōngguó rén rúhé yǐ nìmíng fāngshì mǎi rù huò mài chū bǐtè bì, āijí huò jiāmì huòbì?

If you are in China, how can you trade Bitcoin or Ether for yuan renminbi or dollars, or vice versa?
Nàme rúguǒ nǐ zài zhōngguó, nàme nǐ kěyǐ rúhé jiāng bǐtè bì huò yǐtài wǎng jiāoyì wéi rénmínbì huò měiyuán, fǎnzhī yì rán?

In China, how to trade Bitcoin or Ethereum for yuan renminbi or dollars?
Zài zhōngguó, rúhé yòng bǐtè bì huòzhě bǎisīmǎi lái huàn rénmínbì?

How do you buy and sell Bitcoin, Ethereum, and Cryptocurrencies if you are in China?
如果您在中國,您如何購買和銷售Bitcoin,Ethereum和Crypto貨幣?Rúguǒ nín zài zhōngguó, nín rúhé gòumǎi hé xiāoshòu Bitcoin,Ethereum hé Crypto huòbì?

Will the Chinese buy, sell, transfer and hold bitcoin, ether, crypto digital currencies in the United States?
Zhōngguó zài měiguó mǎimài, zhuǎnràng hé chí yǒu bǐtè bì, yǐtài wǎng, jiāmì shùzì huòbì

What do you do if you are in China and own Bitcoin, Ethereum, LiteCoin, or other digital currency that may be now illegal to own, but also illegal to sell or transfer?  How do you handle your bitcoin out of the country in cyberspace?

Our law firm provides a service of helping investors who own Bitcoin, Ethereum, or other cryptocurrencies take control of their Bitcoin outside the country, overseas, or here in the United States, securely.

We can do this in a number of ways, including:

1. Have our law firm hold your Bitcoin in trust
2. Have our law firm set up a corporation, LLC or other entity to hold your Bitcoin for you
3. Have our law firm create a trust, revocable or irrevocable, or with special instructions, and transfer the cryptocurrency to and from this trust
4. Have our law firm transfer your Bitcoin, Ethereum, or other cryptocurrency for you to another location or account or currency, cash or gold
5. Have our law firm take power of attorney over your account until you request it back
6. Or any combination of the above
7. Your identity is kept confidential, privileged, and anonymous, and only disclosed as required by law, and only to the extend required, if any.

We have a number of options available for buying, selling, holding, maintaining, or transferring your digital currency accounts.

This is intended allow you to transfer your crypto-currency to a safe location without having to do so in China, and thus without violating any Chinese or other naitons’ laws.

You may contact us by phone, email, or by our postal mailing address.

All transactions are confidential and protected by the attorney-client privilege. Contact us for details and a consultation.

California Attorney Daniel Bakondi, Esq. 
The Law Office of Daniel Bakondi
870 Market Street, Suite 1157
San Francisco CA 94102
For more information:
IMPORTANT NOTICE: No attorney-client nor confidential relationship is created through this communication and this posting does not constitute legal advice.  Your issue may be time sensitive and may result in loss of rights if you do not act in time.  Attorney licensed in California and services provided as allowed by law. Thank you.
This page was updated September 4, 2017  Copyright (c) Daniel A. Bakondi, Esq.







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