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/biz/ - Business & Finance

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57527052 No.57527052 [Reply] [Original]

Say you made 75k from crypto in 3 years starting with 3k and you want to cash out and your bank asks for source of funds, does the trade history csv file your exchange gives you count as source of funds?
I have absolutely no idea how any of this works, any anon here who did large deposits have any experience with this?

>> No.57527068

europoor here
I'm in a similar situation and I don't know what to do, banks here hate crypto more than I hate jews

>> No.57527077

>>57527052
I doubt the IRS going to give a shit about $75k. Just report what you can and you'll be fine.

>> No.57527082

>>57527052
75k is not a large deposit, i can only imagine what kind of backwater bank would even care

>> No.57527086

>>57527077
>IRS
forgot to mention I'm european, I'm not talking about the tax agency fucking me I'm talking about the bank's AML bs

>> No.57527091

>>57527082
I've heard people getting bank accounts frozen for crypto deposits over 10k

>> No.57527094

>>57527052
Yes

>>57527068
You might be in a different scenario. Assuming it's legal to trade crypto idk how they can stop you, but be careful. Call the bank beforehand and explain.

>> No.57527100

>>57527094
>Yes
Thanks anon

>> No.57527107

>>57527094
I'm in the EU (spaniard), I think crypto trading is legal here as far as I'm aware

>> No.57527112

>>57527052
Are you retarded? Yes it counts

>> No.57527126

>>57527091
I just dumped 40k into my bank and no one blinked s fuckin eye.
If you have a clean record and standing with your bank and full verification of everything on your fiat onramp and off ramp then everything is fine. No one should ask shit

>> No.57527129
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57527129

>>57527112
>Are you retarded?
Yes

>> No.57527147

>>57527126
>If you have a clean record and standing with your bank and full verification of everything on your fiat onramp and off ramp then everything is fine.
I have been using this bank for 5 years to pay bills and buy goods and services and have all the KYC shit done at the bank, just a little scared of depositing this much money

>> No.57527291

>>57527147
If anyone asks just say it's an inheritance and threaten to take the 75k to another bank.

>> No.57527312

>>57527052
Your exchange is not linked with your bank?

>> No.57527327

>>57527291
That's probably what I'll do if they reject the csv files
>>57527312
What does that mean?

>> No.57527359

>>57527327
You tried to transfer $75,000 dollars or Euros or whatever off of an exchange and the bank wants to know where the funds are coming from? The way you described this is confusing but I know you have a nanny state over there. All I know is if I did that my bank in USA would probably try and push some debt or savings product on me but it's between me and uncle sam where I get my money.

>> No.57527361

>>57527052
>be me
>NEET, no income on paper
>$10k saved up over years of allowances, gifts, inheritances from relatives etc.
>found a really good coin in 2022, now have over $100k
>it might actually become worth over $1m in the peak of the bull run
Am I going to get screwed by the tax man? I can use the blockchain transactions history to prove that I've been holding for more than a year

>> No.57527373

>>57527359
>You tried to transfer $75,000 dollars or Euros or whatever off of an exchange and the bank wants to know where the funds are coming from?
I haven't done it yet but yes that's my concern
>I know you have a nanny state over there.
Yes, it's hell for anyone who wants to be above mediocre

>> No.57527389

>>57527052
This happened with me before and I sent them a screenshot of the exchange showing that I withdrew funds from there. I think I also showed a screenshot of the trade to fiat (in my case it was just one trade BTC -> EUR). I didn't show them any trades apart from that.

>> No.57527393

>>57527091
A few years ago I ran an online business and would deposit $40k -$75k into my account on a monthly basis and not one person ever questioned my deposits or asked for any documentation. Of course I did my taxes like a good goy at the end of the year and eveyone left me alone.

>> No.57527401

>>57527389
>I sent them a screenshot of the exchange showing that I withdrew funds from there.
>I think I also showed a screenshot of the trade to fiat (in my case it was just one trade BTC -> EUR)
were these good enough?

>> No.57527476

>>57527401
Yes. I think it took a day or two for them to approve the transaction and allow me to access the funds.

This happened on two separate occasions.

A few months later, they asked me for some kind of additional documentation related to my previous activity (I hadn't made any new transactions). I don't remember the details but I think they might have wanted more extensive documentation such as my trading history. I was already pissed off over the previous two times and this time they weren't holding my money hostage so I just said fuck it and closed my account.

Banks are seriously fucking annoying. Tried to open another bank account and they wanted a list of every trade I made and a list of all my crypto addresses. Fuck off.

Deposited from an exchange (less than 10k) to two different bank accounts and both banks told me they did not allow crypto-related transactions. They did approve the transaction that time, but I can't use them again for crypto.

It's getting fucking hard to bank if you're into crypto.

>> No.57527556

>>57527052
fuck, as a nigger in asian, i also had that kind of issues. Now, I still got my monies and usdt and just use it to trade on news from twitter or beoble, lol.

>> No.57527573

>>57527556
lmfao. you got all the monies but you cant use it? biggest L I’ve ever known.

>better sell your soul now

>> No.57527578

>>57527086
literally just call the bank, get an appointment and then ask them about it.

>> No.57527609

>>57527052
get a lawyer

>> No.57527614

>>57527373
Well if your bank is connected to the exchange than you're going to need to initiate the transfer of USD or Euros or whatever your currency is that is held on the exchange to the bank. Then just see what happens. If they want to know where the money is coming from just tell them. I don't think they need a proof of funds but the only way to find out is to try, you're probably going to have to talk to a human but it's not like you are doing something illegal. Fifi Legarde wants you on ze digital euro so if you're selling crypto the government supports you.

>> No.57527619

>>57527609
>bills you 4 hours for 15 seconds of advice

>> No.57528036

>>57527052
When I sold in early 2022 I had incoming deposits from coinbase of $200k for 5 days in a row and no one said anything to me. My bank didn't, I never heard from the IRS. I use a small credit union.

>> No.57528094
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57528094

>>57527052
Good luck Euro bros, im there is a better way.

>> No.57528268

>>57527393
>Totally different situation.
Banks will freeze any funds coming from crypto exchange. They assume you're laundering money and they could get into trouble for it. They're only allowed to launder Jewish money.

>> No.57528338

>>57527052
Post hand