Hi all,
I have money in a UK bank account and I would like to send it to somebody in Malaysia.
It seems simple enough to go GBP -> BTC then BTC -> MYR.
But the recipient is unwilling to open any crypto related accounts currently and, due to AML, I cant use, for example, Local Bitcoins combined with their local bank account (as it's in a different name and would fail verifiation).
Is there any other way currently? Or must I wait for the industry to mature further?
Since he is unwilling to open any crypto related accounts, then you essentially have to perform both the buying and selling for him.
I still think that selling for MYR through p2p trading will make the most sense, although you can buy through a licensed exchange at a better rate.
I highly doubt that you're going to be flagged by sending it to a p2p exchange like LBC, and then putting in the recipient's bank details directly. Most of the time, the account holder information is completely irrelevant anyways if you're on the receiving end.
In fact, you don't even need to get verified to sell to most ads on LBC. I'm not sure about the current state of Paxful, however.