Hi,
this is just a theoretical question.
We talk a lot about AML/MiCA and SoF for Banks here. Now I am in a position where all my funds are clean, never did anything illegal. But I do mostly OTC deals for early Investments, Seed rounds or buying from teams/private persons who need urgently liquidity.
On-Chain it just look like that:
But how am I supposed to "proof" my source of funds to the Banks? Do I just provide them my trading log (I can even include all On-Chain TX Links) and hope they believe me?
And now the real question: As the Bank decides if a proof is sufficient or not and you never really know....
What's the WORST case if they just dont "believe" me or dont accept my SoF as a proof where my funds came from?
Whats the Endgame here? Do I get sued? Do they "just" keep my money or do they keep the money AND i get sued and need to go to court and face criminal charges?
this is just a theoretical question.
We talk a lot about AML/MiCA and SoF for Banks here. Now I am in a position where all my funds are clean, never did anything illegal. But I do mostly OTC deals for early Investments, Seed rounds or buying from teams/private persons who need urgently liquidity.
On-Chain it just look like that:
- My Wallet sending Wallet XYZ 1000$ in ETH
- 1 month later I receive 1000-10,000$ (or whatever the price is by then) of the Token I bought. => Often this value is much higher than the buy-price (thats the whole purpose of doing OTC deals)
- I sell these tokens and gain $
But how am I supposed to "proof" my source of funds to the Banks? Do I just provide them my trading log (I can even include all On-Chain TX Links) and hope they believe me?
And now the real question: As the Bank decides if a proof is sufficient or not and you never really know....
What's the WORST case if they just dont "believe" me or dont accept my SoF as a proof where my funds came from?
Whats the Endgame here? Do I get sued? Do they "just" keep my money or do they keep the money AND i get sued and need to go to court and face criminal charges?