How do I send large sums (20k plus) from crypto to bank account without it being held up...

How do I send large sums (20k plus) from crypto to bank account without it being held up? And what happens if it is held up? Is it a pain to free it?

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Don't you simply inform the bank in advance?

"held up" "held up"
babbys first crypto gains

Well I don't know, thats why I am asking. How would I even inform Chase Bank about this? what do they do in return, send the info to the IRS? I've never had more than a few thousand on my bank account but now I need to withdraw approx. $30,000 within the next 30 days. And I'd like to do so without setting off too many red flags

Same question as you, always wondered that

It doesn't get held up you stupid piece of shit I've done 6 figure ones plenty of times.
You fell for the it gets held up meme, wow you guys are fucking dumb as shit.

Under 10k and you won't raise flags and they won't require verification. technically this is structuring and they could get you for that, but Chase has been fine with my under 10k cash outs from coinbase pro.

You could also consider a 2nd bank account and move some of the money through there. It is good to diversify banks in case one decides to stop doing business with you.

just call ahead of time or don't ask questions if youre not asked questions

lol retard use multiple banks and do it in stages
UK less than 10K for UK banks
non uk banks like santander

Let's say link is not a meme and ends up mooning and I cash out 8 figures...do I just deposit 8 figures into my checkings account? Wouldn't this set off major red flags?

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>Wouldn't this set off major red flags?
Well...yes. You probably want to pay the long term capital gains on it. Alternatively, become a citizen of Malta or Bermuda or wherever the fuck before doing so.

I plan on paying all my taxes and what not but I'm just paranoid about police busting down my door.

buy stablecoins and cash out bit by bit nigger.

Are you fucking retarded. The cops arent going to bust down your door they have drug dealers and murders to pursue.

create a second taxable event
TOP KEK

So you mean to tell me if I end up with 8 figures from cashing out during a bullrun, and transfer this 8 figure amount over to my Bank of America checking account from coinbase, nothing will happen to me? Seems too convenient.

>Catalog
who the fucks gonna know nigga
and you didnt make a profit by buying stablecoins. cant tax me for that desu.

I wired $14,000 from kraken to chase without any questions or problems last year. They may have reported it to the IRS though, idk

Fundamentally if that happens it would mean that l*nk is big enough that you don't have to transfer to fiat anymore. Just use a smart contract to exchange for whatever digital currency and make your purchase directly. If you extrapolate everything that is developing in crypto onto a long enough time horizon you will see society trending towards technocratic feudalism and nation states. Encryption and zero knowledge will make income taxation paid to centralized authorities at gunpoint a thing of the past. I'm a Muslim man but I have to admit that pregnant Sergey really turns me on. I keep fantasizing about putting my seed inside him and watching new life grow...

>l*nk is big enough that you don't have to transfer to fiat anymore
Not necessarily, think about the people that purchased eth under a dollar and sold when it hit over a 1000

Umm. I wouldn’t do it. Banks hate crypto, you know that don’t you? They are anti crypto. For good reason. Anyway, Wells Fargo closed my account when I transferred 20 k and tried to cash out. They froze it

>Teller: Whoa where'd all this money come from?
>You: Bought cryptocurrency years ago. You can see my initial transfers to Coinbase in my statements from 2016.
>Teller: Oh cool, I just bought some myself. Anyway we do have to tell the IRS and FINCEN about it.
>You: OK..

So basically I don't have to do anything on my part? I just wait for the bank to contact me?