Crypto SoF documents

[hlepic211]

If you're in a low-or zero tax jurisdiction just pay yourself an advisory comission for any type of service with btc or usdt. Create a conract between you and any UAE company for example (with chatGPT). Make sure the company sends you crypto from any reputable exchange (this way you'll get clean source).

Then send it to any exchange and cashout fiat (Kraken->SEPA).

= clean fiat with SoF.

 

[fighthorse]

Let's say I want to open an account in a crypto bank or private bank in CH/LI.

I bought BTC in 2016 for 350$, sold for 700$, bought again at 4000$, and then did a shitload of stuff which are harder to track, defi, multiple exchanges, lost money, lost crypto, gained crypto again, etc, etc.

BUT I have a purchase receipt for like 20 BTC in 2016.

Can I just show that receipt to Frick/Sygnum/Anima, and then deposit 10 BTC with them ?

Or sell the 10 BTC for fiat at Kraken, then transfer to a non-crypto private bank in CH/LI, and show them the purchase receipt and the sale receipt ?

Will that be enough ?

Or are they going to dig, ask if I really holded from 2016 until now, will want a full list of all my transactions from 2016 until now, etc ?

If you want to avoid problems, and considering the modest fortune you have, I would recommend setting up a legitimate system where you convert crypto to fiat through proper channels, so you can produce a Source of Funds (SoF) document. I wouldn’t start with a bunch of shady maneuvers!

Unless you can move the funds directly into gold or cash via an intermediary, I wouldn’t risk putting them into a bank account, unless you do it the way I initially suggested.

That said, you can use any Exchange like kraken and binance to transfer the money to a Wise or other crypto friendly EMI and to your bank account.