Post
Topic
Board Announcements (Altcoins)
Re: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs
by
visaco
on 26/04/2017, 09:01:18 UTC
Hi guys

I have a legal question.
Suppose a standard hypothetical scenario where NEM rises to 1USD in 1-2 years. I will want to withdraw some of my funds lets say 1 mil USD.
Now 1 mil USD will just arrive to my bank account - I would expect the financial police will be suspicious of how I could gain so much money.

Is someone here able to explain how this works in European legislation? Can I just withdraw money and say that I was a lucky NEM holder and everything will be fine?
Will I need to declare this as an asset gain and pay taxes? Or is this tax-free?

Thanks for your input!
ask the  tax department of your country.
i heard europe will soon ban anonymous coins like dash monero zcash, xem is ok
so i do not advise you to use them within europe at least.
to avoid of being flagged try to not exceed 10K eur when you withdraw to your account.