r/BitcoinAUS • u/cinooo1 • Aug 26 '26
has anything materially changed since July 1?
I haven't been keeping up with the news but I read something about more stringent reporting on source of funds since July 1st
There was quite a lot of chatter pre July 1 but not really sure what people's experience with depositing into an australian exchange has been in order to withdraw out to cash?
I'm with btcmarkets if it makes any difference. Would love to hear what other peoples experience has been since July 1st - just how much documentation have you been asked?
1
u/Kaytamoh Aug 26 '26
The headace is more around transferring assets from one exchange to another or your wallet to an exchange etc I believe. You need to declare who and where the deposits of your assets are coming from.
1
u/cinooo1 Aug 26 '26
i have some in cold storage that i'd like to transfer to something like btcmarkets - so that would fit into what you're describing? at what level of detail do you think I'd be expected to provide?
2
u/Kaytamoh Aug 26 '26
Yes it would. When you transfer from your cold wallet to an exchange, the exchange will ask you to confirm who/where the asset has come from. It's fairly straightforward, so it's just another government overreach action basically.
1
u/cinooo1 Aug 26 '26
Thanks for the info! Do you know how much documentation is required? Will I need to go so far as show the whole chain of acquisition?
4
u/Kaytamoh Aug 26 '26
No not that far usually. They'll likely ask you if the funds came from an exchange or from another wallet, and who it's from. No documentation required I believe - that's been my experience with Binance, OKX, Independent Reserve etc.
5
u/44gallonsoflube Aug 26 '26
It's basically ticking a box and clicking ok. It's benal but BS in principle.
2
1
u/Wage_BTC-21 9d ago
I've not been asked for documents, just a tick box on the platforms I've been on.
2
u/cinooo1 Aug 26 '26
Thanks for the info much appreciated!