How would the bank react to/handle you becoming crypto rich in a a few days and trying to desposit tens or hundreds of millions after cashing in?

Question

Surely if you just dropped 100 million in, something would happen.

In: Technology

Answer 1

Paperwork will be filed, some of it will go to the IRS (or equivalent in your country) and someone, at a minimum the tax man, will be asking questions. People don’t just come into that much money at once, and you bet the government has some rule that says they get a cut of the tax on it and are salivating as they read the paperwork.

Exact details vary by country, but largely this is what I would expect to have happen.