So which US banks are the most crypto friendly for RECEIVING from exchanges?

[PinkCat]

Which US based bank (from the ones left anyway) are most crypto friendly for RECEIVING large transfers from regulated exchanges like Kraken?

 

[VESTANON]

Which US based bank (from the ones left anyway) are most crypto friendly for RECEIVING large transfers from regulated exchanges like Kraken?

@PinkCat

evidently non at the moment, with the current stance on crypto, the SEC, alphabeth boys etc..

most viable option might be P2P TRX, whereby you swap crypto on Ramp to fiat, ie (kraken,coinbase etc)

with US based banks, slow and small incoming amounts would suffice providing longterm under radar use...

one time large payments would sure get funds frozen..a sure hassle in itself..

on ramp p2p conversions/ TRX would simply be recognised as local transfers, US bank to Us bank small payments and all.

 

[PinkCat]

Wouldn't bank still ask what is the reason for 10 different persons wiring you money?
Also now with localbitcoins gone, what is the current most popular p2p service?

 

[VESTANON]

Wouldn't bank still ask what is the reason for 10 different persons wiring you money?
Also now with localbitcoins gone, what is the current most popular p2p service?

currently a handful of reputable p2p exists a few below:
paxful
kucoin
huobi
local coin swap
Gemini..


inline with banking receiving numerous TRX, key to success:
1. get a physical business banking acct, 2.duly registered,
3. a global bank brand,
4. carryout due diligence procedures,
5. attach reputable entity provided along with due diligence requirements.
6. entity consists of TAX No., readily verifiable when required
7. setup a website fully hosted, profiling business activities.
8. business of choice/activity/services within a range of expected monthly total incoming payments.
9. minimal proof of substance.
10. proceed to invoice clients globally

operational results and possibilities all based on criterias that are practical, achievable and stable ...no shortcuts, no darks..

 

[PinkCat]

two follow questions
1. how are kucoin, huobi and gemini p2p? At least under p2p exchange I understand something like what localbitcoins was
2. You seem to be referring to creating business, to cover your crypto cash out, that is neat but you will have to pay much higher taxes on the "business" income than just capital gains right?

 

[VESTANON]

1. They above listed CEXs enables, Swapping crypto to cash, and vice versa..you simply select which CEX aligns, with your needs the most.

2. You seem to be referring to creating business, to cover your crypto cash out, that is neat but you will have to pay much higher taxes on the "business" income than just capital gains right?

2. Not necessarily, scenarios of higher taxes, simply depends on the jurisdiction of choice..

jurisdictions could have higher taxes, lower capital gains, whilst another jursidiction could zero/lower capital gains. ie
California/New york/Iowa consist of higher capital gains.

jurisdictions with Little or no capital gains tax ie: UAE,Newzealand,Belgium,Belize Etc

morever regardless of jurisdictions of choice, taxes and levies would apply at some point, keeping the setup afloat as well as in good standing with local operational laws..

 

[joshi49]

Wouldn't bank still ask what is the reason for 10 different persons wiring you money?
Also now with localbitcoins gone, what is the current most popular p2p service?

For BTC, besides the ones that have been mentioned, you can have a look at HodlHodl and AgoraDesk