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RE: What happens if you withdraw $1 million dollars from Coinbase into your bank?
That is illegal, it's called structuring.
Structuring, also known as smurfing in banking industry jargon, is the practice of executing financial transactions such as making bank deposits in a specific pattern, calculated to avoid triggering financial institutions to file reports required by law, such as the United States' Bank Secrecy Act (BSA) and Internal Revenue Code section 6050I (relating to the requirement to file Form 8300). Structuring may be done in the context of money laundering, fraud, and other financial crimes. Legal restrictions on structuring are concerned with limiting the size of domestic transactions for individuals
I was only speaking hypothetically. But for the record, my money invested in crypo was all from after tax dollars and via Coinbase. I am not doing any money laundering or fraud from cash/under the table transactions. Counterfeiting money is also illegal...yet central banks print money out of thin air now in the form of 1's and 0's and charge interest to the governments. Then the government uses that money to bomb other countries. I'll stick to "structuring" over bombing and wasteful spending any day of the week.
Its hard to crack the shell of systematic conditioning. I am happy to see you give it a whirl!!
Ha! Thanks for that. Hopefully it all works out, just don't let Dana-edwards know...sounds like a rat quick to snitch on your "illegal" activities.