Quote from: stanner.austin on July 16, 2024, 08:32:30 AM

Hello
If that receiver bank account is in USD than this is for tax saving.
In india direct BTC to INR will cost 30% crypto tax and 1% tds with lots of other tax.
Most people trying to find way for such condition one of them is USD transfer from out side india which will exempt them with LUT for 18% gst and no crypto tax as this income in USD not in crypto.
But now days positive pay is in action by government, any unknown 3rd transfer will still flag there money. way is no longer safe way to save tax.

If the person's intention is to avoid tax, then it is a good move. But if it is for tax evasion that's a criminal offense that can take someone to jail. If you don't want to pay tax in your country, you can consider going to a crypto friendly neighboring country and do your transactions. My country just introduced an 8% tax on all crypto transactions and we will be forced to pay it. The government might not give licenses to any exchange that fails to implement the new tax policy. I would have to use these approved exchanges because the government can seize your funds if you use an unapproved one. The government has been sending undercover law enforcement agents to offer P2P transactions. Once you send the funds to the bank account, both traders' bank accounts will be locked by law enforcement agencies.

Quote from: peter0425 on May 27, 2024, 10:45:10 AM

Just an idea, here. Maybe the one op is making a transaction with does not want the bitcoin to be traced back to him once he converts it to fiat. Now maybe that person just wants to avoid unnecessary questions from the bank from directing it to op or maybe they just do not want to be found out.

If you want to remain anonymous consider using only decentralized exchanges that offer P2P transactions. If you want to send a transaction through a centralized exchange you should be willing to sacrifice your privacy. Even if you pass through someone the funds would still be traced back to you. These days it is difficult to carry out crypto transactions without centralized exchanges but Bisq is a recommended decentralized exchange if you are considering privacy.