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
Can't cash out my crypto and live my life...
- Thread starter mariodraghi
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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 blockchain︀ projects whatever the ever..... and you get paid in bitcoins/eth etc.
proof of funds is︁ 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 blockchain︀ projects whatever the ever..... and you get paid in bitcoins/eth etc.
proof of funds is︁ 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 in︀ mind that the laws and bank rules are vague on purpose so they can block︁ 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 10︃ years ago. But you still will need to provide those for completeness.
Also be aware︄ that you might owe taxes.
I is a ton of work but it is the︅ 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 in︀ mind that the laws and bank rules are vague on purpose so they can block︁ 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 10︃ years ago. But you still will need to provide those for completeness.
Also be aware︄ that you might owe taxes.
I is a ton of work but it is the︅ 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.
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 (cash︀ out) was the proceeds or connected to something in Cambodia, where a gambling mother/father lost︁ money on a online casino and killed his/her family.
Naturally crypto got a bad name︂ 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 happens︄ absolutely everywhere, and it will always be impossible to close down.
So either this is︅ a troll, a moron, or both, or most likely a Government stooge trying to get︆ 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 or︇ similar indictment for pointing out this post, that topic etc looks like x and should︈ be closed down.
Lol, I am frequently on my guard, as it's so easy to︉ 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 (cash︀ out) was the proceeds or connected to something in Cambodia, where a gambling mother/father lost︁ money on a online casino and killed his/her family.
Naturally crypto got a bad name︂ 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 happens︄ absolutely everywhere, and it will always be impossible to close down.
So either this is︅ a troll, a moron, or both, or most likely a Government stooge trying to get︆ 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 or︇ similar indictment for pointing out this post, that topic etc looks like x and should︈ be closed down.
Lol, I am frequently on my guard, as it's so easy to︉ get pulled into some conspiracy charge these days seemingly.
#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 live︍ my life...
I arrived at the same conclusion as you! Especially, my last 2 sentences.︎
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 live︍ 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".
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 there︀ that track, and score addresses based on clean and up-to 18 or even more moves︁ backwards.
2) Chain Hopping uses either decentralised (data is on-chain) or 3rd party counter-party which︂ has the records in their internal systems - so obfuscation perhaps if intent (facts and︃ circumstances) but hiding the source - no, because the companies retain the records and the︄ data feeds into the analytics companies for their wallet verification processes.
So IMHO its not︅ laundering...
I don't believe moving funds from some dodgy online deal into Barclays then to︆ wise then to revolut (banks/emi's off the top of my head) isn't 'laundering because they︇ all pass the information along with them and have compliance processes - until such time︈ as a alleged crime is stated it's clean money if it passes the source of︉ wealth smell test (will soon be having these for 10 pounds).
Laundering to me, is︊ basically what this guy is trying to do if he was real..but i suspect its︋ 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 human︌ that would arguably need a chain sleuth... but even they utilise technology...
For the systems︍ analysing this is a piece of cake, so obfuscation (not illegal) - but layering/laundering no︎ because its all on-chain and all recorded there or via counterparties which pass the information️ 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 there︀ that track, and score addresses based on clean and up-to 18 or even more moves︁ backwards.
2) Chain Hopping uses either decentralised (data is on-chain) or 3rd party counter-party which︂ has the records in their internal systems - so obfuscation perhaps if intent (facts and︃ circumstances) but hiding the source - no, because the companies retain the records and the︄ data feeds into the analytics companies for their wallet verification processes.
So IMHO its not︅ laundering...
I don't believe moving funds from some dodgy online deal into Barclays then to︆ wise then to revolut (banks/emi's off the top of my head) isn't 'laundering because they︇ all pass the information along with them and have compliance processes - until such time︈ as a alleged crime is stated it's clean money if it passes the source of︉ wealth smell test (will soon be having these for 10 pounds).
Laundering to me, is︊ basically what this guy is trying to do if he was real..but i suspect its︋ 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 human︌ that would arguably need a chain sleuth... but even they utilise technology...
For the systems︍ analysing this is a piece of cake, so obfuscation (not illegal) - but layering/laundering no︎ because its all on-chain and all recorded there or via counterparties which pass the information️ 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.
ChainAnalysis is pseudoscience, their software isn't audited, and reportedly flags wallets because they have interacted with on-chain exchanges. I have used their software, it's comically bad.
https://bitcoinmagazine.com/technical/chainalysis-denounces-bitcoin-core-contributor-as-unqualified
Their business model essentially revolves around lobbying for more stringent AML rules, to then sell their useless software with a false positive rate of >50%. Same happens with︀ compliance software for banks, by the way. And surveillance software designed to scan your devices︁ for CSAM content.
AML in general is very problematic, as it's a clear inversion of︂ the principle that an individual is innocent until proved otherwise. I understand that there's a︃ lot of crooks, grifters and nefarious individuals out there, but now the cure is killing︄ society.
People living with marginal lifestyles are unbanked (ask any prostitute about what's in her︅ shoeboxes), regular people have to submit very private data to random "compliance officers" and pray︆ that it won't fall into the wrong hands, bank accounts get frozen because there was︇ a 20€ wire from a foreign country, etc etc... And much more!
https://twitter.com/x/status/1705679464083186004
https://bitcoinmagazine.com/technical/chainalysis-denounces-bitcoin-core-contributor-as-unqualified
Their business model essentially revolves around lobbying for more stringent AML rules, to then sell their useless software with a false positive rate of >50%. Same happens with︀ compliance software for banks, by the way. And surveillance software designed to scan your devices︁ for CSAM content.
AML in general is very problematic, as it's a clear inversion of︂ the principle that an individual is innocent until proved otherwise. I understand that there's a︃ lot of crooks, grifters and nefarious individuals out there, but now the cure is killing︄ society.
People living with marginal lifestyles are unbanked (ask any prostitute about what's in her︅ shoeboxes), regular people have to submit very private data to random "compliance officers" and pray︆ that it won't fall into the wrong hands, bank accounts get frozen because there was︇ a 20€ wire from a foreign country, etc etc... And much more!
https://twitter.com/x/status/1705679464083186004
Yeah....and these same people are "trying" to sell this pseudoscience software, AML software, compliance officers' "expertise", bankers' knowledge, and other scams by similar grifters! I get what you are saying 100%! 😉
Thank you for posting this article. Although, it was so infuriating to read it. My general advisor in college once told me: "Why do you think we call it the criminal justice system? Because it's run by criminals." Later I realized he was NOT being facetious! stupi#21
Thank you for posting this article. Although, it was so infuriating to read it. My general advisor in college once told me: "Why do you think we call it the criminal justice system? Because it's run by criminals." Later I realized he was NOT being facetious! stupi#21
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