How do I convert my crypto gains into euro in the EU?Let's pretend, I've made 10 million usdt with trading shit coins and now it's sitting in my trust wallet. If send it to my kraken account, they'd instantly block it, due to AML until I provide proofs of origin for that funds. But there’s no way i can provide a track record for every shit coin swap i made over the last for years.Seriously anon, what do I do?I hate these fucking eu bureaucrats...
so instead of getting financial advice from someone in the EU that knows about this kind of thing you just ask /biz/ well known for being full of jeets and 'people' that bought link
>>61199307Are you a jeet or one of those people that bought link?
>>61199277I sent 100k to kraken from staking and they didn't query any of it. But presumably they have some sort of auto block chain analysis that proved where it came from. Then I got an OTC trade to convert to EUR instead of doing it on the open market.I think there's a difference between not being able to prove the origin vs having a dodgy origin. If it was all bought legitimately you might be alright but I'd definitely cash it out in batches.
>>61199277It's so easier using polymarket, prophex, swaye etc
You can cash out, but you'll get assessed at a 0 cost basis by ur local tax niggas, unless you have autistically accounted for every trade
>>61199325So i just sent a fraction of it to the exchange and hope that it goes well? And than like a month or two later do it again, rinse and repeat. Also what does OTC mean?
>>61199277they don't block you as long as you aren't sending from blacklisted addresses. it's the tax man who wants to know where all of this came from.
>>61199339I don't mind the taxes. If I end up with like 7 million euros im my bank account, I would be soooo happy...
>>61199343>>61199348or you track down an accountant in YOUR country who handles crypto and ask him. Not us. You will need an accountant if you're getting that much. You should also have been siphoning off portions of your stack long before you came here so you could buy useful assets like a house.
>>61199351>should haveNo point discussing what I should or could have done. I'm asking what I can do now.
>>61199277i’ll buy crypto at a 5% discount
>>61199367Sure
>>61199371Also interested in buying with a discount, Netherlands faggot here. But yes, you can try exchanges and do 50-100k and try to get it into your bank account. I use Coinbase and have moved around 150k but not back to my bank tho (BTC/Eth) trade
Also if it helps you better cash out before 1st January, then exchanges are forced to report to whatever tax office you have. DAC8 faggot niggers
Where did you go to buy your first crypto? If it's Kraken and you can show that you withdrew to other exchanges to trade shitcoins, you should be good. Take some screenshots of your trade history.
>>61199277Why would u help you when you have more money than me. I hope they confiscate everything and you get taxraped and then raped in prison.
>>61199307don't listen to this noseburg
>>61199455Classic europoor mentality, I guess you're from Germany lmao
>>61199448I never used any exchanges. I bought 1 eth on metamask with apple pay, back in february 2021 i think. Also, from time to time I created new wallets and moved everything, over the last four years it must've been like 20 wallets and different chains, eth, bnb and now sol.
>>61199487all that shit is trackable, just time consuming. if you have the keys to the old wallets you can prove that it all belongs to you. but even just showing the apple pay receipt and owning the keys to your last wallets should prove the link.
>>61199455Likewise anon. Should you make it some day, I hope they do the same things to you.
>>61199406I don't wanna hide it and am willing to pay taxes. I just want to avoid my funds being blocked by an exchange.
>>61199277P2P in small amounts. Meet the guy in person for medium amounts. Personally I wouldn't keep fiat and you're basically buying fiat with your crypto.
>>61199277I'm paying you 100 Euros for those 10mil USDT.Cash.
>>61199515If this isn't a larp and you legit want to cash out anything close to 10m USD you need professional help! Don't be an idiot thinking you will be fine because it's all legal and you have all the documents. Exchanges are dodgy. Even the reputable ones are not to be trusted with an amount like that. They operate in a grey area where they can take your money under the excuse of obeying regulations like a bank, but unlike a bank, they don't have things like duty of care or deposit protection so once they take over your funds they can just ignore your attempts at contacting them and place you on a conversation loop with a chat bot that will keep referring you back to the FAQs. I cannot stress this enough. SEEK PROFESSIONAL HELP. You're about to walk away with an amount of money that will set you for life, don't lose it because you're being cheap. My suggestion is don't even go to an accountant, go straight to a lawyer, preferably a financial services lawyer. Ask him how much he wants to guide you through the process and agree on a price. Yes they aren't cheap and may ask for a cut, but it's either that or risking losing everything.The law office will be able to walk you through everything including referring you to an accountant if needed and will also look at what method is the safest to cash out. They will probably go for an exchange that has legal representation in the EU and contact them directly as your legal representative.If you try to do this thing alone you are an absolute moron and I'm looking forward to see you making a thread moaning about this or that exchange taking all your money and how do you get it back lol.
>>61199546please listen to this anon. Go slow dont trust these exchange jews
>>61199277Well, slowly? Just continue sending more until they block you and get your lawyer/documents ready. That way you risk the least amount of money. Just thinking about sending 10M to some exchange makes me think you don't have anywhere near that.
>>61199546nice way to get arrested for moneylaundering retard
>>61199277Couldn’t you cash out small amounts at a time without it throwing out and red flags? That’s what I would do if I had make it gains. Keep everything in stables and cash out as needed. If I need any large amounts of money, I would contact the cex in advance to avoid any hassle
>>61199652I guess I could, but what's the point of making it if you can't take that money and... i don't know... buy a house for example.
>>61199652>contact the cex in advanceI think that's what I'm gonna do.Which one is the best in eu?
>>61199716It’s all relative. Making it for me means not having to work. Everything else is secondary. But in terms of large amounts, just contact the cex and ask them about that. I always read that major cexs aren’t bad about that if you let them know ahead of time. I’m a poorfag so I wouldn’t know
>>61199733>Making it for me means not having to workI that case yes, you could cash out small amounts every now and then, and live off of it.>I'm a poorfagIf I may give you an advice, buy some $ crypto. It looks very promising.You are gonna make it, anon
Just milk it little by little, nigga. If I had 10 mill, I'd just make monthly withdrawals for whatever I needed that month. Push it to the limit and try different exchanges to see which ones will let me get away with most. Then pile a big chunk of that money in something traceable and jew-friendly like a all-world ETF to protect it from memeflation and cover my annual living expenses. And the rest in BTC so it can keep growing.
>>6119927735% in Italy, 60% in France. And there is no no-tax range where you can cash out. If you sold $100 or a million, you will have to pay taxes. I believe Germany was not charging taxes on crypto a while ago, but probably already changed policies.
>>61199343Was out all day so answering now.How long have you had an account on the exchange? Which exchange is it? I'd probably recommend Kraken above the rest.You can get to a higher level of verification also on there that massively increases your limits. You could also enquire about an OTC trade and then ask what paperwork you would need to prepare for it if any. That's probably your best idea if you want to do this solo. Let me try and dig out any comms I had on it
>>61201209OK I can't remember exactly how I got started but presumably herehttps://support.kraken.com/articles/360021967711-introducing-the-kraken-otc-deskThen I got added to a WhatsApp chat directly with the OTC desk. Here is a stitched chat with multiple screenshots merged but this is how I completed the trade.Maybe use this type of chat to discuss how you can proceed.
>>61201263It won't hurt asking them what the documentation requirements might be but at the same time the OTC desk and AML team are totally separate.People above have suggested a lawyer but realistically what is a lawyer going to do if you can't prove source of funds?Also you didn't answer the question I think about whether you know the source is bad (eg money laundering) or if you simply just didn't keep track. Those are very different scenarios and presumably Kraken and other exchanges have pretty good chain analysis tools so if they're arising from legit trades I'm ASSUME you'd be fine, but it's such a large amount that I'd definitely try my advice first maybe a lawyer if you want, and then drip feed and immediately withdraw with 100k a day for a week maybe?
test
>>61201263Kraken it is then.Thank you very much anon.
>>61204277You're welcome. Good luck. And don't move it all in one go to limit your exposure to potential seizure.
>>61199277>cash outcrypto IS CASH
>>61205612You mean> cash is fucked> $crypto looks good here
