Presumably, bitcoin is not the issue but that they want proof that you have owned it for a minimum amount of time? Ie, would be the same problem if a family member gifted you the same in dollars from their bank account, and you had not held it in your account for the minimum 60 days?
Discussion
Yes, however, self-custody makes it extremely difficult before the 60 days. It led to a whole bunch of questions, the answers to which made them nervous. Examples:
"Can you have bitcoin generate an annual 1040 for our records?"
"Can you take a screenshot of bitcoin to show us that you are the registered owner of the account?"
If these were stock sales, these requests for info are easily answered.
My advice? Wait the 60 days, and regardless of that, don't mention "bitcoin" until they start asking for details. If you don't wait the 60 days, get ready to dox the most straight-forward view of your wallet, which will be the balance and transaction history. Because they will go cross-eyed when you start talking about blockchain explorers.
The documents from the exchange will not be enough either, if you didn't hold funds in the exchange for over 60 days.
That's really useful info. Thx.
A real pain going in and out of the fiat world. Just want to go into bitcoin and stay in. Looking forward to bitcoin only exchanges for property, bitcoin banks and lending/mortgages. No fractional reserve. No global banking connections.
Kind of like old fashioned community banks. But would have to be completely in the Second Realm. Maybe they already exist...