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RE: What happens if you withdraw $1 million dollars from Coinbase into your bank?
I would open a few checking accounts, and only do transactions of $8,000 or less over a period of time along with a crypto debit card. Higher amounts and too often will trigger red flags for the IRS. But in reality, I feel we are still early in the crypto world and see no reason to cash out yet. Hopefully, as things progress, there will be no need to cash out at all...just buy/barter via cryptos. Interesting post though. Upvoted, followed, and resteemed.
That is illegal, it's called structuring.
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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.