Buying bitcoin on someone’s behalf

Amazon
gowqe1

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gowqe1
Apr 7, 2021 15 Comments

Hi Guys,

One of the my friend back in India wants to buy bitcoin but there are no trustworthy exchanges there where one can buy crypto. So he wants to send me usd so I can buy bitcoin for him and transfer them from my Coinbase account to his.

I believe if the transfer amount is less than 10k $ then there should be no tax implications, as well as there shouldn’t be anything illegal about this.

I think this would be a common scenario and many people would be doing this. Appreciate your thoughts.

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