Banks and Large Cryptocurrency Withdrawals: What to Expect
When withdrawing tens of millions (or even smaller amounts) from cryptocurrency markets:
- Banks typically initiate anti-money laundering (AML) investigations
- Customer service contacts you to verify fund origins
- Irregularities may lead to:
- Account freezing
- Regulatory authority involvement
Even smaller transfers (e.g., $100,000+) can trigger reviews if flagged as suspicious.
To minimize account freezing risks:
- Maintain transparent transaction records
- Prepare explanations for fund origins
- Ensure compliance with AML regulations
- Consult financial advisors/bank representatives
Stay informed, plan ahead.
