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Hello,
Recently I have invested in a coin that was closed for 90 day, So you could invest in it but not sell the coin.
2 weeks before the release date a public announcement was made that a 5% tax will be collected, if not paid the coin will stay frozen and you had deposited the funds in USDC. This I have paid and sold my coins for a profit.
When you make an withdrawal up to 72h it could take to receive the funds in your external crypto wallet. within in these 72h another announcement was made on the site telling the investors that due to money laundering a 1% government fee must be paid since all trades are made trough government issued channels.
After paying for these fees I finally initiated a withdraw of my funds to my external wallet and asked after 72H why the money was not yet there. I was told that due to my governments policies the amount that I try to withdraw was too high to be send to an external wallet and this could only be send to my IBAN.
To send this USDC to my IBAN I have to pay a 0,5% conversion fee and a 1% banking fee. Now that I have also paid for this I was told that due to Eurasian Group on Money Laundering and Countering the Financing of Terrorism (EAG) regulations I have to pay a 2% deposit of my profit from selling the coins. This money I would get send to my external wallet and the initial funds from selling my coin I will get to my IBAN.
The profit from selling the coins are over 0.5M, Are these extra fees normal? I feel like for every step I take I have to pay. I trade on the primary market.
please let me know if others have faced this
submitted by /u/XXLCuntdestroyerXXL
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