Bitcoin and anti-money laundering policy in UK
I thought I can make this a short question.
Problem:
I am trying to have a mortgage approved with Nationwide, in United Kingdom. The money that I put forward for an advance it's subject to anti-money laundering policy.
Some bits of my journey:
I sold bitcoin for profit using the Coinfloor Ltd., i have obtained a trade sheet and a sheet with deposits and withdrawals from my account with them in order to offer proof of that to any other party.
At the moment it feels like the lender is putting me under an endless string of questions about where the money came from their incipience. Although they have a policy of not being against bitcoin, it feels like they lack even the most basic knowledge of what bitcoin is and how it can be used in simple transactions.
Question:
If anyone else has gone through such an audit, what information have you provided to the central authority in such terms that they understand it enough to proceed ?
Never been thorough something like this, and, at least for the time being, I'm staying away form it. Good luck with it! And let us know if you come to any conclusion with them.
thank you for getting back to me @dragosroua. I'll try and keep this updated.
Supportive and informative post dear, you are a true person you present the proofs so no harm for you in it just ans them of their bullshit kind of Questions and try to set a path for others, I admire you on your positive step no matter just ans them nothing illegal in it, if you have the proof of you initial investment than you are on safe side GOOD LUCK stay cool and don't be exhausted
thank you for the kind words.
good post @decebal2dac friend and I know the development of bitcoin in english after reading your post.
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Unfortunately I think Nationalwide is hostile towards crypto. Coinbase now display a big warning when you log in from the UK. The warning says that Coinbase do not accept bank transfers from Nationwide Bank. They do not give a reason but I imagine it is because the bank is blocking or closing accounts that are associated with Coinbase.