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Bitcoin legalities for dumbasses

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Thread replies: 12
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If one had made an investment in btc early and was sitting on more money than their bank had ever seen, would selling it all and depositing the £$ into your bank account directly be a bad idea?
Would banks get pissy? Would the government accuse you of tax evasion / money laundering?
Whats the smart way?
Im asking mostly for UK laws, but if you know anything for anywhere I'd still be interested to know.
thx bbys
>>
Withdraw into multiple family members accounts or if u have a shitload just move to Denmark for 1 month and withdraw it all into DKK
>>
Banks are for pussies. Buy precious metals online and cash em out at various local pawn shops and stuff the cash under your mattress
Hasn't crypto trading taught you anything?
>letting other people hold your money
>>
Just declare it as capital gains and pay your damn taxes. It's totally legal.
>>
>>2719288
no interest in tax evasion
Is it as simple as that? Just pay the tax and its golden?
>>
>>2719296
Correct. If it's shitloads of money your tax agency may ask you why. "I traded crytocurrencies" is a valid answer,
>>
>would selling it all and depositing the £$ into your bank account directly be a bad idea?

yes it would be a bad idea to go through the hassle to convert your money to a form that is constantly tracked and scrutinized, in a bank that can decide to take your money away from you whenever it wants, with guaranteed devaluation every year.
>>
>>2719331
Better suggestions?
We've had precious metals, what else?
>>
>>2719339
I like dividend stocks, but thats just me
>>
I withdrew 100k usd from GDAX directly into my Chase account hassle free
>>
>>2719342
Dividend stocks sound nice on the face of it, but I get the impression that in real life they're unreliable and small
Correct me if im wrong pls
>>
>>2719389
They're larger than bank interest.
Thread posts: 12
Thread images: 1


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