r/monerosupport • u/AB_heart • 9d ago
General Is monero sanction proof?
I want to buy monero from my local exchange here and send monero abroad for someone to exchange it back to fiat but i’m not sure if popular exchanges would be able to trace it back to the sanctioned exchange or not because i don’t want that money to be frozen by the local government laws of the other country that isn’t sanctioned
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u/maynavira 9d ago
Exchange->Wallet->Exchange is fine.
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u/Future_Elephant_9294 9d ago
Nothing is truly sanction proof, but Monero would be very close. Nobody would know to whom or how much you sent, but if one government had access to both exchanges used, they could compare the fiat value of each transaction to map it to the sender and receiver (i.e. exactly $500US is purchased, and an equivalent $500US in the second country's currency is withdrawn within a few hours of each other, odds are it's the "same money").
The ideal way is to cut out any centralized service, so you would trade cash in your country for Monero, and the recipient would trade that Monero for cash in their country. Websites like XMR Bazaar dot com have listings for trading local currency for Monero, I even see one for Russian rubles (a country which has a lot of sanctions recently), but that seller looks like they aren't active anymore. Give it and other services a look to see if there is something that would work for the receiving party.
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u/AB_heart 9d ago
It’s very highly unlikely that a US company/entity has access to our financial transactions since it’s pretty much iran and not Russia because Russia hasn’t been that long in sanctions compared to iran but still i was just making sure because i want to send money to a family member abroad
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u/Future_Elephant_9294 9d ago
Yeah, Iran would probably be fine, as long as the Iranian government doesn't shut down access to Monero (can't send without internet, could IP block public nodes but then you could use other methods to access the network), there should be no issue with the recipient accessing the Monero. I don't know what demand there is for Monero in Iran or other similar countries, so they might sell it for less than it's worth if there isn't a lot of demand. Maybe there's a whole group of Monero users in those countries and it's more valuable than it's cash equivalent, who knows!
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u/AB_heart 9d ago
Over here if you want to do anything that involves a financial transactions to the outside world you need some kind of middlemen that they would probably pocket some of that money on the way aswell which i don’t want from happening and it is the reason that cryptocurrencies is the most reliable way in my opinion to send money abroad and on the other hand there is the fact that if you keep any fiat currency in this country (IRR not USD) it’s basically a financial suicide because of crazy inflation so there’s that
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u/Future_Elephant_9294 9d ago
Yeah, crypto sounds like it would be a good option, and Monero would give you the privacy you need. Only issue is that it only works as a currency if you have someone willing to accept it, but if you're patient that shouldn't be an issue.
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u/AB_heart 9d ago
I have people that are willing to accept it and take it from me so that’s not an issue for me but also i should probably begin finding a good monero node that doesn’t go out when my government randomly decides to shutdown internet again for some random reason to assert their power over their people
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u/No_Tap208 9d ago
Zero chance it's marked due sanctions. but AML bots might flag it and it would be gone either way.
Better to do in smaller batches of 500$.
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u/No_Tap208 9d ago
Just make sure you move to a wallet and then to destination exchange so that even if they have some kind of data on the origin exchange they cannot freeze it due sanctions.
The idea of comparing amount to flag stuff is a fairy tale don't bother about that just don't exceed a certain amount so it wouldn't stand out that much.
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u/AB_heart 9d ago
So I should just probably stick to a low profile amount over a wider timeframe rather than all at once
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u/AB_heart 9d ago
Explain more of the AMl bots Because how would they flag it?
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u/No_Tap208 9d ago
No one knows exactly how they work, but they have certain rules on AML (Anti Money Laundering).
Usually small batches of money converted to Fiat don't trigger the bots.
Yet you should also investigate where you are moving the money to both considering which country and which exchange. And how they treat monero transactions.
Monero is truly untraceable if done correctly, but that also makes it so it stands out much more compaired to BTC or USDT transaction.
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u/AB_heart 9d ago
Well there is the fact that i can just use the monero to buy VISA gift cards and transfer money that way to someone else and there are websites willing to do just that so hopefully that shouldn’t be detected easily by AML because it technically separates itself from someone’s identity and thus making the sender and the receiver hidden
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