Hi, Can some one advise
My friend wanted to invest in bitcoins He wanted to give me say £1000 from his bank and gave it to me in cash, If I was to say put the cash into my bank and set up buying bitcoins from my online account would this be legal? , He has no knowledge on how to buy or trade them..
Thank you
It is legal but all the authorities will think that this is your 1000$ that you have now put into system and you are now using it to buy cryptos. Which means that any gains arising from it will be taxable in your hand until you create a full procedure by explaining how this income belongs to him. In any case however this can never be illegal until the money you are having is black money or money earned through unethical means. And yeah cryptos must also be legal in your country to do this.