Quote from: stoneIsland on July 13, 2020, 01:24:37 PM

Hi can you help suggest fastest/safest way to sell btc in United States? These are my own btc so don't mind KYC/AML verification. Concern is speed. Also wanted to avoid the risk of flagging as money laundering thus get account shut down and money frozen.

if speed is a concern, then centralized exchanges and bank wire withdrawals are usually the best route. gemini, coinbase pro, kraken, and bitflyer are easily liquid enough to handle those amounts and they all process wires quickly. all except kraken also offer ACH bank withdrawals (no fees) if you are willing to wait a day or three longer for the money to hit your bank account. when i withdraw from coinbase pro via ACH i generally receive funds on the second businesses day after submitting the request.

as far as money laundering risks go, that depends where the bitcoins are sourced from. if they are "clean" (for example, outputs withdrawn from exchanges and other whitelisted services, mined outputs) you should not have a problem, although you might consider spreading your sales to multiple exchanges to avoid volume-based AML measures.

if the coins come from questionable sources, you might consider dealing with that issue first.

Quote from: stoneIsland on July 13, 2020, 01:24:37 PM

Also what would be the tax implication of this? I purchased btc out of country. Wanted to do this to bypass FX control of my home country. Total amount is around 10 btc but wanted to do this over one year or so in small amount each time.

it depends on your tax status in the USA. https://www.investopedia.com/ask/answers/06/nonusresidenttax.asp

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The tax implications for foreign investors depend on if they're classified as a resident alien or nonresident alien by the U.S. government.

Nonresident aliens are subject to no U.S. capital gains tax, but capital gains taxes will likely be paid in your country of origin.

If you are a resident alien and hold a green card—or satisfy resident rules—you are subject to the same tax rules as a U.S. citizen.

you will generally not be subject to any tax withholding from exchanges, but if you cross certain volume thresholds (like $20k + 200 transactions in a year) then regulated exchanges like those mentioned will send the IRS a form 1099-k notifying them of your activities.