Quote from: hero_the_bossman on November 29, 2024, 07:43:35 AM

Quote from: MiningMike on November 29, 2024, 06:25:08 AM

Quote from: fatcat1986 on November 25, 2024, 05:47:21 PM

Hi,

I friend of mine bought recently some BTC from ATMs in Switzerland.

Because Switzerland has a limit of 1000 CHF per month without KYC on ATMs,
he bought 10 times 1000 each, with fake phone number.

He wasn't money laundering, just using his own legal money for HODL,
while he didn't want to do KYC.

Now he is wondering whether he might get problems cashing out in the future.

To prepare for potential problems, your friend should document everything like reciepts for the cash used at the ATMs or transaction IDs from the blockchain.

If they plan to cash out significant amounts, doing so through s KYC, compliant platform may be unavoidable to avoid scrutiny. It's always better to be proactive than to run into legal or financial hurdles down the line.

That sounds like a good plan indeed.
Even if there is no alert at the moment it doesn't mean there won't be one in the future.
Better be ready than sorry afterward.

it's always smarter to stay prepared even if things seem calm right now. You never know when something unexpected might pop up and being ready can save a lot of streess later.