Anyone has experience with audits?

[bizman]

all this tainted talk is nonsense, I have not had the⁣ slightest issue so far with smaller amonts below 5K euro, I made tons of such⁢ exchanges wit hthe same exchange for many years. No single problem at all. If you︀ break it to smaller amounts it's much easier to get it through the banking system︁ without questions.

 

[cats]

Where is this? I doubt this would work in EU, in any⁣ case, even if the bank would take it, then the taxman may ask for SoF,⁢ plus you need the money ready to buy anything relevant.

Anyone has any recent audit︀ experiences in this context?

 

[calbe636]

Funny how a fat crypto wallet still hits a brick wall if the paperwork’s shaky.‌ Telling the bank your coins are legit won’t cut it, they want the full trail,‍ start to finish.

That’s why anyone lining up a private raise or moving money across⁠ borders puts a real AML plan in place first. JD Supra’s breakdown of the nuts-and-bolts⁤ https://www.jdsupra.com/legalnews/10-keys-to-conducting-an-effective-aml-1064367/ spells out what the bankers expect, from source-of-funds stories to ongoing checks.

Give it⁣ a skim before you walk into that compliance meeting, saves a lot of awkward follow-up⁢ emails

 

[intlman]

This right here is the correct answer.

 

[EliasIT]

If you don’t convert it to fiat, how do you plan to use it for‌ everyday things, considering crypto still isn’t widely accepted in regular stores?

 

[Martin Everson]

Crypto debit cards. Plenty of them about.

 

[Lyngia]

Could you/anyone‌ help us and name a debit card service which will not bring us in trouble?‍
Also does that even exists for EU?
I'm in the same situation as OP, sitting⁠ on old coins with little to no SoF and which are very likely tainted because⁤ basically everything was "unregulated" at that time.

 

[JackAlabama]

no thats not tainted. Plus there are ample of tools to make it acceptable.
sof is⁤ directly related to the oracle problem and hence not a biggie.

 

[Martin Everson]

What does that mean?

Not for no SoF and likely dirty coins 😕.

 

[LuckyLuke6]

We're lucky. My partners and I aren't limited by these draconian rules which continue to‌ get more extreme. Easily move in and out of crypto into gold or fiat. Let‍ me know your thoughts - Cheers Lucky

 

[Lyngia]

I played around with my coins. Starting with first concept of‍ mixers, "unregulated" exchanges, auction sites, etc.
So I would say they are very likely tainted.⁠ Or what do you mean?
And can you explain in more detail what you mean⁤ with ample of tools to make it acceptable?

Sorry I don’t get⁢ it. Care to explain?