Crypto Loan as Source of Funds?
- Thread starter meze99
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Unless it's a loan from a lender that makes sense (i.e. not some random business) or a well-known lender, they will likely just ask where the lender got the money from. Loans from a sketchy lender isn't an acceptable SOF.
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This is the probably the answer to your question.
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This is the probably the answer to your question.
It really depends on who's asking. It's not as well known a source for loans as banks or mainstream lenders, and many regulators view Binance with scepticism, warning banks to do business with Binance. You could end up in a position where you have to explain how and why Binance is lending you money. More savvy banks/EMIs might understand and accept.
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This is the probably the answer to your question.
You will be asked to provide source of funds for the collateral
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Some do.
It depends on the amount and the country/bank you are doing this with.
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It depends on the amount and the country/bank you are doing this with.
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As has already been mentioned here a few times, you really need to have your documentation in order if you want to convince an EMI (Electronic Money Institution) or bank that you have received a crypto loan!
All things considered, there should be a loan contract from a company that is credible. If the loan comes from some fix or fax company you just created or someone else just created, or if there are no financial statements for the respective company, then I am sure it will be rejected solely for this reason.
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All things considered, there should be a loan contract from a company that is credible. If the loan comes from some fix or fax company you just created or someone else just created, or if there are no financial statements for the respective company, then I am sure it will be rejected solely for this reason.
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