If you earn significant amounts from cryptocurrency, such as tens of millions of dollars, your bank will likely investigate the source of your funds when you attempt to withdraw. Banks usually perform anti-money laundering (AML) checks when large sums are deposited into personal accounts. Even amounts as small as a few hundred thousand dollars can raise suspicion, potentially leading to a call from the bank to verify the origin of the funds. If there are concerns, your account could be frozen, and the case might be referred to regulatory authorities.

It's not just massive sums that get flagged—smaller transfers can also trigger reviews. To avoid this, many crypto traders take precautions like not using their primary or salary accounts for crypto transactions, as frozen accounts could interfere with mortgage payments or affect credit scores. Some traders steer clear of major banks, which tend to have stricter monitoring systems, opting instead to purchase financial products before converting their crypto proceeds to cash, reducing scrutiny from the banks.

The goal is to handle withdrawals smoothly, without attracting unwanted attention. Hopefully, everyone in the crypto space can achieve their financial goals while avoiding these potential risks.

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