Hello,
I have some questions regarding how to liquidate my crypto into MYR.
It's a long journey.. I started in late 2020 and managed to turn few thousand (MYR) into a few million (USD).
Currently, I'm mostly sitting in USDC in FTX and doing lending.
I'm looking to liquidate some of the USDC into MYR, about 500k USDC worth.
My question is, can I just do that with LUNO straight and declare them accordingly in the personal tax bracket?
I can buy BTC in FTX, transfer them to LUNO, and then sell them and cash out.
Is there any concern that I should be aware of?
I'm looking to buy house / car after declaring them.
To add some story:
I started to onboard crypto with P2P in Binance to purchase USDT, when I earn my first pot of gold of crypto I didn't do that anymore. So it's just crypto gain rolling more crypto gain. I used to trade derivatives in Binance, now trading full time in FTX.
Thanks.
This post has been edited by Secretx: Apr 3 2022, 02:36 AM
Liquidating millions worth of crypto