Quote from: olubams on July 17, 2016, 08:20:43 PM

Quote from: AlexGambaryan on May 07, 2016, 10:56:58 AM

Hi everyone.
I am new. I hope this is the right sub for this.

I work outside the US.

I tend to prefer to keep my balance in USD as opposed to the currency at my current place of residence. I have a US bank account of course.

What I do is cash out my salary and buy bitcoins with it.

Then, I send the bitcoins to the american exchange I am using (Coinbase, Circle, or other), and issue a sell-order.

This saves me tons on fees (last international wire I did ended up costing me $70. That's outrages).

My question is about the legality of this. My intuition tells me there's nothing wrong with this (just a modern way of sending money), but I want to make sure I am in the clear.

The reason I have decided to ask, is because Coinbase emailed me asking for more information regarding this action. They are asking for the source of the funds, my line of work, and so on.

I will appreciate your advice or input on this.

Thanks so much.

Alex

I'm my opinion, it depends on the position of the law on situations like that, if the law is silent on issues like that then there is not wrong cos a reasonable person will want to keep his money from the reach of government cos its interpreted to mean avoiding rather than evading but if the law is expressly against it then @op you're working against the law which is wrong... My 2 cents...

i think that is such a confusing situation and no one know the real answer of this question. to be it is very clear that sending of money abroad without paying tax is not legal. and so we are not paying tax on bitcoin then how can we say that sending bitcoin abroad is a legal process.