I’m resident in the UK but recently got engaged and came out to korea (family lives here). My family gave me roughly £71,000 in cash and I wanted to explore how I can bring that into the UK. It seems that the best way that is legal is to have a Korean national here buy btc, and send me that to my wallet, and then I cash it out to sterling at a normal bank. I don’t know much about btc and I’ve never used it before. I’m obviously concerned about legality and safety. I will start my research today but wanted to see if there were any pointed advice that this community can provide me. I’m specifically worried (at every stage to be fair) when I have to convert the btc into sterling. Won’t the uk banks be like ayyo where is this cash coming from what the hell? From the korean side, it is legal and the restrictions require a Korean national to buy after passing anti money laundering checks. So if they pass that and cash becomes BTC form, the actual transfer process should be easy enough to my wallet. But then the btc to UK sterling… I would like to make it into sterling at a conventional bank account as soon as possible.
Any comments, advice, suggestions, and or recommendations would be greatly appreciated!