The legality of sending money abroad using bitcoin - am I doing something wrong?

[Cresciuanto]

if the bitcoin currency is illegal in a country and still they do not legalize it. then it must be illegal to send money abroad using bitcoin. because you cannot transfer the property of a state without a proper and authorizing way. and that will also be a form of money landing.

[abugseuf]

yes there is no doubt about this. if you are sending money abroad in bitcoin it is illegal. because bitcoin is still not legalize by any country. so if you sending money in form of bitcoin so it is a form of money laundlng.

[Cresciuanto]

yes there is no doubt about this. if you are sending money abroad in bitcoin it is illegal. because bitcoin is still not legalize by any country. so if you sending money in form of bitcoin so it is a form of money laundlng.

yes you are right. it must be illegal. because if you are sending money first you have to pay taxes on  it and then you will be allowed to send it. but you can see that there is still no tax on bitcoin. its mean that using of bitcoin is also illegal there.

[GreenBits]

Depends on the two countries involved. Capital controls in some countries prevent the transmission of fiat outside borders. A person in said country would be breaking the law by buying another currency not of that government (bitcoin) with that governments fiat.

In the States at least, you shouldn't be taxed for transferring value. You may pay a fee to move said value, but there are no taxes associated with the simple transfer of value. Trade is another thing, but this is like sending money back home. Which is a one sided transaction, not a trade.

[olubams]

Hi everyone.
I am new. I hope this is the right sub for this.

I work outside the US.

I tend to prefer to keep my balance in USD as opposed to the currency at my current place of residence. I have a US bank account of course.

What I do is cash out my salary and buy bitcoins with it. 

Then, I send the bitcoins to the american exchange I am using (Coinbase, Circle, or other), and issue a sell-order.

This saves me tons on fees (last international wire I did ended up costing me $70. That's outrages).

My question is about the legality of this. My intuition tells me there's nothing wrong with this (just a modern way of sending money), but I want to make sure I am in the clear.

The reason I have decided to ask, is because Coinbase emailed me asking for more information regarding this action. They are asking for the source of the funds, my line of work, and so on.

I will appreciate your advice or input on this.

Thanks so much.

Alex

I'm my opinion, it depends on the position of the law on situations like that, if the law is silent on issues like that then there is not wrong cos a reasonable person will want to keep his money from the reach of government cos its interpreted to mean avoiding rather than evading but if the law is expressly against it then @op you're working against the law which is wrong... My 2 cents...

[Superbitzz]

Hi everyone.
I am new. I hope this is the right sub for this.

I work outside the US.

I tend to prefer to keep my balance in USD as opposed to the currency at my current place of residence. I have a US bank account of course.

What I do is cash out my salary and buy bitcoins with it. 

Then, I send the bitcoins to the american exchange I am using (Coinbase, Circle, or other), and issue a sell-order.

This saves me tons on fees (last international wire I did ended up costing me $70. That's outrages).

My question is about the legality of this. My intuition tells me there's nothing wrong with this (just a modern way of sending money), but I want to make sure I am in the clear.

The reason I have decided to ask, is because Coinbase emailed me asking for more information regarding this action. They are asking for the source of the funds, my line of work, and so on.

I will appreciate your advice or input on this.

Thanks so much.

Alex

I'm my opinion, it depends on the position of the law on situations like that, if the law is silent on issues like that then there is not wrong cos a reasonable person will want to keep his money from the reach of government cos its interpreted to mean avoiding rather than evading but if the law is expressly against it then @op you're working against the law which is wrong... My 2 cents...

i think that is such a confusing situation and no one know the real answer of this question. to be it is very clear that sending of money abroad without paying tax is not legal. and so we are not paying tax on bitcoin then how can we say that sending bitcoin abroad is a legal process.