I have no clue what forum to post this in, because it's on finance.
We have a couple of clients in the US in the Cannabis sector that have about $20 MM in physical cash and they want to move it to crypto. The problem with moving that much cash into a bank is the FDIC regulated banks have issues with money from cannabis and other community banks that handle cannabis won't take in this much cash at once.
Any clues on banks or institutions that can help with this transaction?
thanks (except for the smart ass comments that will follow of course. ha)
Is that money legal?
Theoretically, they could just make a cash deposit to their bank account, and then make a wire to Coinbase.
If it is legal, after the bank verify the documentation, I doubt they would have problems.
You cannot make a cash deposit to any reliable exchange. The volume is too high to buy p2p or any other method. You must trade it in an exchange, due to the high volume.