That's the easy way. You could even get creative, make just one beautiful nft, put it on opensea and buy it / sell it to turn it into money with proof of source. Done.
That's the main purpose of NFTs (and Hunter Biden's paintings, lol).
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Can't cash out my crypto and live my life...
- Thread starter mariodraghi
- Start date
That's the main purpose of NFTs (and Hunter Biden's paintings, lol).
I actually bought one and my property was delivered without a day of delay.
Usually the money goes to escrow account overseen by the govt. The govt sends inspections to the construction site to monitor the progress of the building (you can access all these reports and pictures trough Dubai REST application) so the developer can't take your money and not finish the project. Also there are payment plans so you pay along the way (not the whole amount upfront - usually 20% and then as the construction progresses you pay 5 or 10% each couple of months and once it's done usually the remaining 50%. Some developers have even plans where you move in and pay the remaining over the next couple of years.
Yes, NFT's could do it but doubt that banks will be happy with that explanation.
Not many banks will ask you how you got your property that you have just sold.
What works for Bidens son doesn't work for the common man, besides people watch for this and it gets tweeted and then the Gov investigate etc lol
get a shelf company , old or recent from a no tax no report jurisdiction(lets say seychelles, st kitts , panama whatever). with a nominee or real director ubo that is not you. Am sure you can find family or friend or whatever as the company needs no bank account. Maybe best for a kyc crypto exchange account
you setup a real corp or aged corp in a jurisdiction like estonia singapore dubai whatever works for your personal situation and tax situation with a bank account that understands crypto somewhat
you provide services to the seychelles company, send an invoice for marketing, consulting on blockchain projects whatever the ever..... and you get paid in bitcoins/eth etc.
proof of funds is then your invoice, sale of commercial services
problem solved and move on
you setup a real corp or aged corp in a jurisdiction like estonia singapore dubai whatever works for your personal situation and tax situation with a bank account that understands crypto somewhat
you provide services to the seychelles company, send an invoice for marketing, consulting on blockchain projects whatever the ever..... and you get paid in bitcoins/eth etc.
proof of funds is then your invoice, sale of commercial services
problem solved and move on
I had a close contact with a similar issue. The solution you're not going to like; they did a ton of work. My contact went through every single transaction along with amounts, USD value on the date of the transaction, and the local currency value of the transaction. Additionally, each line item had a memo field describing their best memory of the transaction. Ultimately, the document was accepted.
On top of that they provided all documents they did have of any tokens they traded, projects they worked with, or exchanges they used if those were available. The final document was several hundred pages.
Keep in mind that the laws and bank rules are vague on purpose so they can block who they want. If its really true that you didn't engage in any criminal activity, they arent going to be worried about the details of $100 btc transactions from 10 years ago. But you still will need to provide those for completeness.
Also be aware that you might owe taxes.
I is a ton of work but it is the best solution for setting yourself up for long term success. Moving forward, document every transaction, keep records of work done, and you won't have this issue again.
On top of that they provided all documents they did have of any tokens they traded, projects they worked with, or exchanges they used if those were available. The final document was several hundred pages.
Keep in mind that the laws and bank rules are vague on purpose so they can block who they want. If its really true that you didn't engage in any criminal activity, they arent going to be worried about the details of $100 btc transactions from 10 years ago. But you still will need to provide those for completeness.
Also be aware that you might owe taxes.
I is a ton of work but it is the best solution for setting yourself up for long term success. Moving forward, document every transaction, keep records of work done, and you won't have this issue again.
Don't waste your time giving OP the best option, it's clear that the money is not clean and he's not willing to do what you and I have said already. Instead he's looking for NFTs wash trading or using complex corporations schemes xD
That's what keeps the forum entertaining
I imagine, the biggest problem with having dirty bitcoin (or crypto) is that you end up like that Will Smith movie Bad boys with the rats chewing your cash under your house...
Only that's phishing and wallet drainers etc + freeze actions/orders etc.
But on the point of cashing out crypto, i see tonnes of Russians cashing out crypto daily online (i won't point where) but it's happening, now its not laundering its capital controls... but i imagine a bit gets laundered world wide via that.
I know a Russian was recently arrested due to a P2P transaction he sat in the middle off (cash out) was the proceeds or connected to something in Cambodia, where a gambling mother/father lost money on a online casino and killed his/her family.
Naturally crypto got a bad name because of the actions of a gambling low-life + Scum for killing his family.
Note they charged him for Money Laundering - It wasn't it was unregistered money transmitting IMO, then ML because he didn't verify the source of wealth... point being that s**t happens absolutely everywhere, and it will always be impossible to close down.
So either this is a troll, a moron, or both, or most likely a Government stooge trying to get criminal content on this site.
https://thethaiger.com/news/nationa...r-money-laundering-linked-to-scam-call-centre
Lol, I am frequently on my guard, as it's so easy to get pulled into some conspiracy charge these days seemingly.
Only that's phishing and wallet drainers etc + freeze actions/orders etc.
But on the point of cashing out crypto, i see tonnes of Russians cashing out crypto daily online (i won't point where) but it's happening, now its not laundering its capital controls... but i imagine a bit gets laundered world wide via that.
I know a Russian was recently arrested due to a P2P transaction he sat in the middle off (cash out) was the proceeds or connected to something in Cambodia, where a gambling mother/father lost money on a online casino and killed his/her family.
Naturally crypto got a bad name because of the actions of a gambling low-life + Scum for killing his family.
Note they charged him for Money Laundering - It wasn't it was unregistered money transmitting IMO, then ML because he didn't verify the source of wealth... point being that s**t happens absolutely everywhere, and it will always be impossible to close down.
So either this is a troll, a moron, or both, or most likely a Government stooge trying to get criminal content on this site.
https://thethaiger.com/news/nationa...r-money-laundering-linked-to-scam-call-centre
One of these days i will read my comments in a DOJ or similar indictment for pointing out this post, that topic etc looks like x and should be closed down.
Lol, I am frequently on my guard, as it's so easy to get pulled into some conspiracy charge these days seemingly.
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#Bingo!
Did you read my post about this about 2 weeks ago? Same conclusion as you.
Here is my post: Can't cash out my crypto and live my life...
I arrived at the same conclusion as you! Especially, my last 2 sentences.
If OP is still reading, best answer is "move to Dubai (or a non-western, crypto friendly country), and spend your crypto there".Wonder if OP can find any valid answer in all of this
Just on the laundering of crypto, this is a massive bug bear for me, i've read quite a few Civil/Criminal (everyone) cases in the US to try and assertion their position and what their 'clarity' is in regulations within crypto.
I've seen in docs, moving ETH from one wallet to another wallet = layering.
I've also seen the use of 'chain hopping' concealing assets.
It's such a shame the Justice department is abusing the fact that Judges, and Juries don't understand the technology.
1) Moving x from y wallet to z wallet can't be layering because its on-chain - public - there's systems out there that track, and score addresses based on clean and up-to 18 or even more moves backwards.
2) Chain Hopping uses either decentralised (data is on-chain) or 3rd party counter-party which has the records in their internal systems - so obfuscation perhaps if intent (facts and circumstances) but hiding the source - no, because the companies retain the records and the data feeds into the analytics companies for their wallet verification processes.
So IMHO its not laundering...
I don't believe moving funds from some dodgy online deal into Barclays then to wise then to revolut (banks/emi's off the top of my head) isn't 'laundering because they all pass the information along with them and have compliance processes - until such time as a alleged crime is stated it's clean money if it passes the source of wealth smell test (will soon be having these for 10 pounds).
Laundering to me, is basically what this guy is trying to do if he was real..but i suspect its authorities... trying to do their entrapment processes (low hanging fruit), good media spin, etc.
Rant over.
For example : this was a case that dropped today.
Now for a human that would arguably need a chain sleuth... but even they utilise technology...
For the systems analysing this is a piece of cake, so obfuscation (not illegal) - but layering/laundering no because its all on-chain and all recorded there or via counterparties which pass the information up the chain.
or direct to the exit point...
Over the past few years the meaning laundering has been watered down to mean anything.
There's also very valid reasons to break funds apart.
:- Security [not a year goes by where you don't get phished as a company, 50k last year i think we had phished then converted to tether then exited through FTX].
:- Hacks [you have s/w issues, but also h/w issues having funds spread out commercially/corporate is part of risk management.
:- Privacy [ironic, but commercially companies buy into projects and don't want to spook the market - i.e TMG buying 2m$ of XTP before it became public].
etc.
I've seen in docs, moving ETH from one wallet to another wallet = layering.
I've also seen the use of 'chain hopping' concealing assets.
It's such a shame the Justice department is abusing the fact that Judges, and Juries don't understand the technology.
1) Moving x from y wallet to z wallet can't be layering because its on-chain - public - there's systems out there that track, and score addresses based on clean and up-to 18 or even more moves backwards.
2) Chain Hopping uses either decentralised (data is on-chain) or 3rd party counter-party which has the records in their internal systems - so obfuscation perhaps if intent (facts and circumstances) but hiding the source - no, because the companies retain the records and the data feeds into the analytics companies for their wallet verification processes.
So IMHO its not laundering...
I don't believe moving funds from some dodgy online deal into Barclays then to wise then to revolut (banks/emi's off the top of my head) isn't 'laundering because they all pass the information along with them and have compliance processes - until such time as a alleged crime is stated it's clean money if it passes the source of wealth smell test (will soon be having these for 10 pounds).
Laundering to me, is basically what this guy is trying to do if he was real..but i suspect its authorities... trying to do their entrapment processes (low hanging fruit), good media spin, etc.
Rant over.
For example : this was a case that dropped today.
Now for a human that would arguably need a chain sleuth... but even they utilise technology...
For the systems analysing this is a piece of cake, so obfuscation (not illegal) - but layering/laundering no because its all on-chain and all recorded there or via counterparties which pass the information up the chain.
or direct to the exit point...
Over the past few years the meaning laundering has been watered down to mean anything.
There's also very valid reasons to break funds apart.
:- Security [not a year goes by where you don't get phished as a company, 50k last year i think we had phished then converted to tether then exited through FTX].
:- Hacks [you have s/w issues, but also h/w issues having funds spread out commercially/corporate is part of risk management.
:- Privacy [ironic, but commercially companies buy into projects and don't want to spook the market - i.e TMG buying 2m$ of XTP before it became public].
etc.
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How has this thread gone on so long.
Noticed no response from the OP for a while.
TBH if he provided a wallet address where the crypto was stored it can be run through chainalysis and the picture would soon become clear on its history.
Noticed no response from the OP for a while.
TBH if he provided a wallet address where the crypto was stored it can be run through chainalysis and the picture would soon become clear on its history.
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