Hey everyone,I'm reaching out to this community in hopes of finding some guidance or recommendations based on your experiences. Recently, I've been in the process of trying to purchase property in the UK, specifically in the London area, using profits I've earned from cryptocurrency investments. While I initially thought the biggest hurdle would be the conversion of crypto to a more traditional form of currency accepted by sellers, it turns out finding a conveyancing solicitor willing to work with me given the source of my funds has been an even bigger challenge.
It seems that many solicitors are hesitant or outright refuse to engage with funds originating from cryptocurrency due to perceived risks, regulations, or lack of understanding of how to process such transactions. I've contacted several firms, all of which have either declined to take on my case or have been unable to provide the services needed due to the crypto aspect.
I understand the concerns regarding compliance with Anti-Money Laundering (AML) regulations and the need for thorough checks, but I'm fully prepared to provide all necessary documentation and evidence to prove the legitimacy of my funds. Despite this, finding a solicitor who is knowledgeable about cryptocurrency and willing to navigate the additional complexities it introduces to the conveyancing process has proven to be a significant roadblock.
Has anyone here successfully gone through a property purchase in the UK using crypto profits? If so, could you share any recommendations for conveyancing solicitors who are open to handling such transactions? Additionally, any advice on how to approach this situation or navigate the legal and regulatory landscape would be incredibly appreciated. I'm looking for a professional who is not only willing to take on this kind of case but also has the expertise to do so effectively.
Thank you in advance for your help and advice!
It seems that many solicitors are hesitant or outright refuse to engage with funds originating from cryptocurrency due to perceived risks, regulations, or lack of understanding of how to process such transactions. I've contacted several firms, all of which have either declined to take on my case or have been unable to provide the services needed due to the crypto aspect.
I understand the concerns regarding compliance with Anti-Money Laundering (AML) regulations and the need for thorough checks, but I'm fully prepared to provide all necessary documentation and evidence to prove the legitimacy of my funds. Despite this, finding a solicitor who is knowledgeable about cryptocurrency and willing to navigate the additional complexities it introduces to the conveyancing process has proven to be a significant roadblock.
Has anyone here successfully gone through a property purchase in the UK using crypto profits? If so, could you share any recommendations for conveyancing solicitors who are open to handling such transactions? Additionally, any advice on how to approach this situation or navigate the legal and regulatory landscape would be incredibly appreciated. I'm looking for a professional who is not only willing to take on this kind of case but also has the expertise to do so effectively.
Thank you in advance for your help and advice!