How do I substantiate my crypto assets for my bank?
In short: Paucitas helps you substantiate crypto assets and their origin in a report that your bank can work through step by step. You supply your transaction data and documents, we reconstruct the chain from purchase to payout and record it so that it can be checked.
Prefer to speak to someone straight away? Call 24/7+31 20 244 5774
What Paucitas does
We reconstruct where your crypto assets came from and when they were acquired. Every transaction is verified separately on the blockchain and set against your exchange and bank data. The result is a report with a timeline, the sources used and an account of the method, so that an employee at the bank can follow the route without having to come back to you for an explanation.
One case from practice: someone bought bitcoin in 2017 through an exchange that no longer exists, moved the balance twice to a self held wallet, and sold part of it in 2024 for the deposit on a house. The export files from that first exchange were gone. By reading the wallet addresses back on the blockchain and linking the data to the original bank deposit, the full route still ended up on paper in a form that could be followed.
To substantiate crypto assets for a UK bank is a different exercise from explaining them. A bank has its own duties under the Money Laundering Regulations 2017 to understand where funds come from, so it is not looking for your account of events but for data it can verify independently. That is why every figure in the report carries a reference to the transaction or the statement it rests on.
What you supply
You supply Paucitas with the exports from your exchanges, the addresses of your wallets and the bank statements you used to deposit at the time. Beyond that, anything that substantiates the starting point: a sale agreement, a payslip, a deed of gift. Missing years are not a blocker; we work with what exists and state explicitly what can no longer be traced.
What you receive
You receive a report from Paucitas of usually fifteen to thirty pages with a summary at the front, the timeline, the transaction table and the annexes. The turnaround time is from the same day to around two weeks, depending on the case. The step most often underestimated is the link between private and business accounts: that is exactly where the records a bank wants to see tend to be missing.
The report comes with a statement of the method used, so that a reviewer at the bank can see which data were examined and which steps were taken. In practice that saves a round of follow up questions.
It helps to know how UK banks approach this. They ask about origin because they are required to, not because they suspect you, and they tend to accept a report only when a reviewer who has never met you can follow it. A report that sets out how the crypto assets were built up, in order and with sources, meets that test far more often than a covering letter does.
How to get started
You contact Paucitas with a short description of the question your bank has asked. In a first conversation we set the scope together: which period, which wallets, which question exactly. After that you know what is needed and what it costs, before the investigation starts. The contact page is the place to begin.
Most people come to us with a letter in hand and a deadline of two or three weeks. That is usually enough time, provided the exports are requested from the exchanges straight away. If the deadline is shorter, say so in your first message and we will tell you honestly whether it can be met.
Whether a particular bank accepts it remains for the bank itself.
Would you like to know what this means for your situation? Ring us on +31 20 244 5774, day or night, or fill in our contact form and you will hear from us within 1 to 3 hours. We answer emails within 24 hours, usually the same day. The intake is free and without obligation.
Do you have a question about your own situation?
Feel free to get in touch with Paucitas. Paucitas can be reached by phone 24/7, including evenings and weekends. Through the contact form we usually reply within 1 to 3 hours, and we answer e-mail within 24 hours.
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Frequently asked questions
About your case
Which documents does my bank need for money that came from crypto?
Paucitas sees that a bank usually needs an overview of your holdings on the reference date, the transaction history from your exchanges and the substantiation of the first purchase. Paucitas bundles those into one file that can be followed.
How long does an origin investigation take?
Paucitas: the turnaround time is from the same day to around two weeks, depending on the case. Complex files spanning several years and networks take longer.
Does Paucitas work if I am missing old exchange history?
Paucitas: yes. We reconstruct the chain from the on-chain data and the documents that do exist, and state explicitly which parts can no longer be traced.
From Amsterdam, for the whole of the UK
Everything can be done fully online. Prefer to meet in person? You are very welcome at our office in Amsterdam, by appointment.
Paucitas is an independent expert firm based in the Netherlands that, for clients across the UK, investigates investment fraud and crypto fraud, establishes the origin and legitimacy of crypto assets and prepares expert reports for legal proceedings and compliance.
Your own situation
If you are reading this, you probably have a question about your own situation. That is exactly what Paucitas does.
The first step is contact by phone. You can book that call by phone or through the contact form, so you do not have to wait. In the call we look together at what can factually be established in your case and what Paucitas can examine for you.