Hi there,

I am trading Bitcoin on LocalBitcoins and similar websites. My bank just sent me an email asking me to provide some details regarding the transactions in my account:

- Please explain the origin of the funds received from *Name Surname* (what goods/services the funds have been paid to the account for) and provide relevant documentation (contracts, invoices)

- Explain what kind of relationships you have with *Name Surname*

- what business activity I am engaged in

- From *date* you have sent *amount* to Kraken, Payward Ltd. Please explain the purpose of such transactions.


People send me money to my bank account, I send them their coins. What kind of explanation should I provide to these questions to ensure the sustainability of my account? Especially for the first question; we do not have any contracts, and the only documentation I can get is the invoices from the exchange. Should I be completely open with them or should I try to hide that I am selling cryptocurrency? Maybe there are someone who have had similar experience?

Edited: the country I am located in, crypto is completely legal.