Recently, due to the fast rise of bitcoin and other cryptocurrencies, many investors are interested in the issue of opening accounts in cryptocurrency assets.
We assume the growth of this segment is primarily due to the fact that in recent years, various restrictions of regulators associated with the implementation of ordinary bank transactions have been significantly increasing.
For example, if you have agreed on a payment under the contract with the sending bank and the receiving bank, there is no guarantee that the payment will not be returnedor frozen by the correspondent bank, which in earlier periods passed them automatically.
However, in recent years, they can either return payments, or even freeze them on the most far-fetched pretexts.
There is also a problem of the extraterritoriality of American justice, in recent years we have seen processes when charges were brought against persons for political reasons, on the basis of the mere fact that they carried out their transactions in dollars, and, therefore, such transactions passed through the correspondent accounts of American banks. Аnd it was only on this basis that the jurisdiction of the American justice case was established.
Of course, such cases concerned very big businessmen, most often those who can be categorized as PEP (political exposed person), however, this can often also apply to Russian residents in regular business activities. For example, Chinese correspondent banks often deploy cross-border payments from Russian residents for fear that Russian residents, in theory, could be affiliated with any persons on the sanctions lists, even in the abstract, or in the future.
Banks, faced in recent years with abnormal fines from various regulators, prefer to refuse any transactions or customers that may bring problems by at least 1% in the future. This is risk management, which makes it easier to abandon a client than to look into his problems: in such departments people work on a fixed salary, they do not take any part in the bank’s profits, and missing even a minimally suspicious transaction, which can lead to large fines for the bank in the future, is fraught with major problems for such a specialist already on the part of his employer , i.e. bank.
Therefore, the popularity of transactions in cryptocurrencies is growing, which are carried out using blockchain technology and do not require the approval of any intermediate link in the form of a correspondent bank, nor do they need any contractual confirmation.
Of course, this does not mean that your transactions will be completely anonymous – now many crypto exchanges or financial and technological startups working with cryptocurrencies require confirmation of the sender by means of a selfie with a passport and indicating the recipient’s crypto wallet address.
However, it is clear that if you do not make any criminal transactions, then this is just insurance against the theft of your funds by scammers, which are many in this market.
We offer advice on opening accounts in banks and payment systems, which are financial and technological startups that work steadily and offer automatic conversion of funds in your account from fiat currencies to cryptocurrencies and vice versa.
In this case, you do not need to register on any crypto exchange at your own peril and risk – all this is undertaken by the bank, and you see the reflection of all conversion operations on your account in the Internet bank as if you were converting rubles into dollars.
We advise and organize cooperation with authorized financial institutions on the following issues:
- opening accounts in major fiat currencies and bitcoin;
- opening accounts providing for the conversion of fiat money into several different main popular cryptocurrencies (including Ethereum, etc.);
- implementation of crypto transfers under the control of the bank or the payment system maintaining the account, in accordance with this, higher guarantees of the security of funds;
- the possibility of transactions both through crypto transfers and by converting cryptocurrency into fiat money in the corresponding account.
Оur specialists are ready to provide additional advice on investments in cryptocurrencies, and the possible taxation of such assets in accordance with the new legislation of various jurisdictions.
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