Large crypto OTC transactions from an Offshore Company

[MrDeddy]

Hi Guys,

I was wondering if anyone here had experience of large OTC crypto purchases.

Let's say I had $500k sat in my legit offshore business account (EMI) and wanted to purchase either USD stable coin or BTC etc. Rather than sending funds to an exchange for this type of volume, I was thinking an OTC broker may be more efficient, less questions etc.

Questions I have:

• Can EMI's handle transactions this large? So send $500k from EMI to OTC account?
• Would there be a high chance they would freeze the account due to the value of the transaction or ask questions before approving the transaction?
• Does anyone know what type of KYC the OTC desk requires? Anonymity is not required but preferred.
• From a reporting perspective, if I have a UAE offshore company, how legitimate would a transaction like this be? Would I need to report the transaction and the fact the $500k was used to purchase crypto?

I am exploring the best way to turn some profits of a legitimate Offshore company into crypto. I'm thinking that once the funds are into the crypto ecosystem, they are easier to move around and keep anonymous for future use/investments in the crypto space.

Appreciate any thoughts on this and if anyone has experience using Offshore company for OTC purchases etc would love to hear from you.

Thanks

 

[CaptK]

Your biggest issue is the EMI as a number of OTC's have been registered and blacklisted with them. Which EMI are you referring to.

UAE banks and government don't really care what you buy but to move 500K in one go to an OTC could give you problems.

If you are in the UAE then there are plenty of private sellers who can facilitate the transaction in a comfortable and safe way. The buying of crypto is not illegal. The use as currency is!!

I am waiting on approval for my own crypto currency licence hopefully within the next few weeks. It will be for an exchange predominantly then eventually gain a fund licence. Eventually crypto will be a form of legal currency. Once the government work out how they will make money from it.

 

[otcable]

I know OTCs that can handle that volume @MrDeddy , pm for details. They are light on the kyc and not registered on any emi as they work only on reference basis.