I'm in the process of getting a home loan. My bank is questioning my purchases for cryptocurrency one of my bank statements and want a letter of explanation with my signature.
My cryto is worth less than a few hundred dollars so its not something that is significant i thought.
I talked to some friends and they mentioned that crypto is seen as an asset, and at that point i realized that i never disclosed my crypto as an asset before hand with the bank.
Should I be concerned? When i was asked about assets earlier on i said in good faith that i only owned the car not thinking about the crypto.
Could they terminate the process or worse punish me and claim i was trying to commit some sort of fraud?
Edit: thanks guys for the helpful responses.
Submitted March 18, 2018 at 10:00AM by Mcjunkins74 http://ift.tt/2G5xbPS
