Transferring large sums of money from cryptocurrency trading, such as 7 million, into a domestic bank account can raise red flags and might even lead to legal complications if the source is unclear. However, there are lawful methods to convert these funds into recognized income.
One effective way is to move USDT from your exchange to BiyaPay, a U.S.-licensed wallet. Within BiyaPay, you can exchange your USDT for US dollars and then transfer those dollars to services like Wise or OCBC Bank. While this process does involve fees and potential currency conversion losses, it ensures that your funds are completely legitimate. Once in Wise, you have the option to send the money to platforms like Alipay, WeChat, or the Bank of China, though annual limits apply. Alternatively, OCBC Bank's 360 account provides a solution for direct withdrawals in China without the typical $30,000 cap.
Another route is to transfer USDT through Kraken Exchange to iFAST UK Bank, which is also fully licensed. This option is equally legal, but similar fees and exchange rate considerations will apply.
Before taking any action, it's wise to consult with a legal expert to ensure compliance with local laws and regulations. Keep in mind that while these methods involve some costs, they provide a secure and legal way to manage your earnings.
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