• If you make a lot of money in the cryptocurrency circle and want to withdraw cash, whether the bank will inquire about the source of the money depends mainly on the amount, frequency, method and bank card situation. Generally speaking, if the withdrawal amount is small, the frequency is low, the method is formal, and the bank card is normal, the bank will not ask about the source of the money. However, if the withdrawal amount is large, the frequency is high, the method is irregular, and the bank card is abnormal, the bank may verify and investigate the source of the money for the purpose of risk control and anti-money laundering. • If you make a lot of money in the cryptocurrency circle and want to withdraw cash, whether the bank will inquire about the source of the money also depends on whether the funds withdrawn are suspected of crimes. If the funds withdrawn are normal digital currency trading income, and relevant transaction records, chat records, on-chain transfer records and other supporting materials can be provided, then even if the bank card is frozen or the police intervene, the account and funds can be unfrozen by cooperating with the investigation and explaining the situation. However, if the funds withdrawn are black money or other illegal income, and their legality and compliance cannot be proved, then they may be suspected of concealing criminal proceeds or money laundering, and face legal consequences.
• If you make a lot of money in the cryptocurrency circle and want to withdraw cash, whether the bank will inquire about the source of the money also depends on the platform, merchant, currency and card type you choose when withdrawing cash. Generally speaking, choosing formal, large and reputable digital currency trading platforms and merchants for over-the-counter transactions, using mainstream currencies such as BTC, ETH, etc. for OTC transactions, and using local or small bank cards for collection and transfer can reduce the risk of being targeted by bank risk control or the police. On the contrary, choosing irregular, small and non-credible digital currency trading platforms and merchants for over-the-counter transactions, using stablecoins such as USDT for OTC transactions, and using large or cross-regional bank cards for collection and transfer will increase the risk of being targeted by bank risk control or the police.
In summary, if you make a lot of money in the cryptocurrency circle and want to withdraw cash, there is no definite answer as to whether the bank will ask about the source of the money. This depends on many factors and there are certain uncertainties and risks. Therefore, when conducting digital currency transactions and withdrawals,
A few points to note:
• Understand your investment objectives and risk preferences, and determine a reasonable withdrawal amount and frequency based on your actual situation.
• Learn basic digital currency knowledge and laws and regulations, and comply with relevant rules and requirements.
• Adhere to formal, safe and legal transaction methods and channels, and avoid involvement with black money or other illegal funds.
• Diversify your investments and adjust them regularly, and use different platforms, merchants, currencies and card types for transactions and withdrawals.
• Develop a good investment mindset and habits, and seek professional help and solutions in a timely manner when encountering problems.
I hope this information is helpful. If you have any further questions or requests, please let me know.