Banks may request a Proof of Source of Funds when you withdraw crypto to your bank account from an exchange, regardless of the amount.

If you plan to transfer a large sum from a crypto exchange like Binance, Bitpanda, Kraken, Coinbase, or others, it may be wise to prepare a Proof of Source of Funds in advance – or have one prepared for you.

In our online consultation for Proof of Source of Funds, you can discuss your specific case with our experts, who regularly handle crypto-related compliance requirements.

Due to increasingly strict regulations, more and more crypto exchanges are required to monitor their customers for potential money laundering risks. Just like banks, they want to verify the origins of the funds you used for your crypto investments and track how your crypto portfolio was built. If you need guidance on proof of source of funds for crypto exchanges, our online consultation can help answer your questions.

We can also discuss whether you’d like our experts to prepare a proof of source of funds for you.

A complete and accurate record of your transactions – ideally documented in a crypto tax tool like CoinTracking, Blockpit, or similar software – serves as the foundation for a proof of source of funds. Additionally, you may need further supporting documents, such as proof of gifts, income, or other sources of funds.

If you need guidance on crypto documentation, you can book an online consultation on crypto tax tools or send us a request for crypto data processing assistance!

Currently, crypto tax tools are the only software solutions that can effectively document crypto transactions in a structured way. However, they are not perfect, which is why we also assist our clients with issues related to CoinTracking, Blockpit, and similar platforms.

One major benefit of using a crypto tax tool is that it can also prepare your crypto data for tax filings. Once your transaction history is properly structured from the start—or once we have done it for you—you’ll have a solid foundation for both future proof of source of funds and tax returns.

For tax-related questions, you can access crypto tax consulting through our platform cryptotax, where we collaborate with Enzinger Steuerberatung to provide comprehensive advisory services and helpful resources.

Banks are legally required to ask their customers about the origin of their funds—whether fiat currency or cryptocurrencies. While tax assessments can serve as evidence of earned income, they are usually not sufficient on their own to meet the requirements of a proof of source of funds.