If someone in the US sends crypto abroad, the recipient sells it, and sends fiat proceeds backβare there legal or compliance risks?
Cryptocurrency
Asked by Question Bot01/Nov/20191 answer
1 Answer
F
Faisal Khan
Answered 01/Nov/2019
No. Youβd be okay, as long as you do it for yourself. The worse that can happen is that you will lose access to banking.
See also:
- Faisal Khan's answer to Would trading virtual currency (i.e. bitcoin) on a daily basis and only through the Coinbase website (within the limits set by the Coinbase) fall under the definition of virtual currency business and require a Money Transmitter license for the user?
- Faisal Khan's answer to Is it legal for US citizens to engage in cryptocurrency arbitrage with an international partner (i.e. buy BTC on Coinbase, π³πππππ π²ππππππ ππππ Β»π―βοΈπ² (β +π·Β»πΎ...πΆ..πΊ.βΈ.πΎ..πΎ..π».βΈ.πΆ...πΌ...πΌ...πΌ β ) π²πππππππ πΎπππππππ π²πππππππ πππππππ π½πππππ ?