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This was in the US. SARs are filled out by banks, not individuals. I've literally never been asked for any proof from Coinbase for over 300k in transfers.
by hiatus 3y ago
This was in the US. SARs are filled out by banks, not individuals. I've literally never been asked for any proof from Coinbase for over 300k in transfers.
- olalonde 3y agoCoinbase does ask that. You can Google "coinbase source of funds" for confirmation. They even mention it in their user agreement[0]. You got lucky and/or maybe forgot that you supplied that information when you signed up. Sometimes it can just take the form of asking for occupation and income. It's possible that they didn't ask further proof if they determined that your transactions were not unusual given your declared occupation and income. [0] https://coinbase.com/legal/user_agreement/united_states https://coinbase.com/legal/user_agreement/united_states "Verifying your identity by submitting the following information: [...] Source of Funds"
- hiatus 3y agoFair enough, it is probably not unusual given my occupation. I would mention, though, that if the person in question stood to profit potentially millions of dollars as you mention, they can more than likely afford legal counsel to help them through this, rather than taking to Twitter.