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by jaggederest 4829 days ago
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.
1 comments
relix 4829 days 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.
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jaggederest 4827 days 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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