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Source of Wealth Query

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  • ACG
    ACG Posts: 24,562 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Explain what has happened and ask if they can help. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • univas01
    univas01 Posts: 7 Forumite
    First Post
    ACG said:
    Explain what has happened and ask if they can help. 
    Sorry, I do not think I got that right but I can explain further.

    It took exactly a week for the solicitor to reply with yet another set of questions and it is so surprising they are asking amongst other questions if Binance and Coinbase are FCA regulated. Of course, they are FCA regulated, it sounds so ridiculous to me just like asking if Barclays or Halifax is FCA regulated. Why would it take exactly a week to ask such a question? I have no clue.

    Before now, they are curious to see evidence of money being deposited into my bank account over a year ago from the cryptocurrencies exchange provider which I provided, and then they turned attention to transaction details of my investments and they have now requested evidence to show that I actually deposited money to the exchanges for investment, I also forwarded the evidence.

    Even with all the documentary evidence, I am now being told they do not have crypto experience and as such, they can not act on my behalf.

    How do I ask if they can help if they can't help with the above?

  • ACG
    ACG Posts: 24,562 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Call around some new solicitors and explain what has happened with the current solicitors and ask if they can help. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • joep2
    joep2 Posts: 29 Forumite
    Second Anniversary 10 Posts
    Coinbase and Binance are not FCA regulated, they are FCA registered payment providers. Crypto assets are not regulated either and most accountants/solicitors back away from recognising these transaction. There are specialist solicitors who deal with crypto if you look online.
  • K_S
    K_S Posts: 6,879 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    edited 21 April 2022 at 7:16PM
    @univas01 Hopefully I'm not breaking any rules by naming a solicitor, but RFB is my go to for any quirky cases where other solicitors have declined - tricky countries for gifts, holding cash in limbo to satisfy capital-raise offer requirements, etc., cash income, etc. Might be worth checking with them if you hit a brick wall.

    Having said that, you shouldn't struggle to find a solicitor as there are a good number of lenders who are ok with crypto.

    I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

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