NFT gains as a source of funds

[modernvision]

I heard is possible the next schema:

Open company in Estonia with crypto licence, launch an NFT project with 100 NFTs with a value of $1k each. You buy yourself those NFTs and you pay 0% taxes on the $100k. You have solved the Source of Funds situation and with the money within company you can buy whatever assets you want everywhere in Europe.

My question is here, it is possible to declare as SOF the winning of an NFT project ?
This is what are they doing now with MEME coins as well right ? launching MEME coin and after few months they buy themselves and declare it as a "Lucky strike win".

What do you think of this ?

 

[Sols]

You can declare anything you want as SOF. The question is whether the person asking will accept the answer.

This is a type of money laundering that can and does work if it's small scale. For 100,000 USD it might work if you execute it properly as a one-off.

But beyond that, there's an increasing chance someone ”” such as a bank, a tax authority, or whoever else has an interest in your SOF ”” digs a little deeper. If they see that you're the only (significant) investor in some memecoin and it's a recurring pattern and/or high amounts, it can stick around.

It's money laundering, though. The repercussions range from loss of accounts (potentially with a loss of funds) to prison time.

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This is the probably the answer to your question.