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Thread: why do Banks ask for income source for bitcoin sold payment

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    why do Banks ask for income source for bitcoin sold payment

    why do Banks ask for income source for bitcoin sold payment

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    Regulation in all countries varies from each other. For instance, in my country, you have to specify the purpose of remittance and indicate relationship with the receiver. Don't ever indicate your crypto trading activities because it only creates suspicion.

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    Quote Originally Posted by Juskopo View Post
    why do Banks ask for income source for bitcoin sold payment
    There's something suspicious about your transaction. They would really freeze your account as long money laundering is concerned.

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    All banks are strictly regulated, and they would not ask you to submit documents for nothing. Your account might be in trouble soon. So, comply with their requirements and answer them nicely.

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    There are laws against money laundry, so banks and brokers don't want to incur regulatory attention so they apply due diligence when carrying out their operations.

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