Is Cross-Border Bitcoin Trading Legal in the US?

I’m trying to understand the legalities here. The plan is simple: 1. Get Bitcoin or an altcoin from another country. 2. Sell it for USD. 3. Send that USD back overseas using legal banking methods. Thinking about starting this if it’s 100% legal in the US. If it works out, it could mean transferring six figures abroad monthly. Any tips on how to make this legit?

Fees might kill your profits. Unless you set up a base in places like North America or Europe, currency conversion could be pricey. Also, if you’re not offering something better than Coinbase, why would anyone come to you? KYC might hit you hard too, like over a grand in crypto.

Finally bypassed the captcha, yay! Hey jackg, legality is my main concern, not really the fees at this point. I’m not trading with anyone here; I’ve got a trusted person for that. Any suggestions would be helpful.

Honestly, sounds like a perfect setup for money laundering. Constant currency changes? That’s a red flag. If you’re not in the US, it could raise even more eyebrows. I’m no legal expert, but this seems risky.

If I wanted to launder money, I wouldn’t bother looking for legal advice. Just trying to find a way to make some steady profit here. Still waiting on a solid plan.

Not sure you can call yourself just a P2P trader with those amounts. You might need some sort of license, like a small exchange. Plus, getting crypto from abroad can have tax implications. This could become a capital gains issue when you receive the crypto.

How will you prove where the money came from? Imagine telling the IRS you made $50k a year but suddenly have huge transfers. They’ll definitely ask questions. A lawyer won’t help you go solo, you need a good accountant for long-term transfers.