I live in the US right now. I have a few friends out of the country who live in different countries that only have access to PayPal. They are big buyers and they want to pay me PayPal so I can get cryptocurrency for them.
If I buy cryptocurrency in large amounts and send it to my friends, will the US government think I am doing illegal stuff? Will they audit me? Do I need to put this on my taxes even though I am not getting the crypto for myself?
Especially since this is in big amounts like 10K or more in a single transaction, could this be bad?
Also, if I buy from binance, will they ask me to verify my identity? Or can i just buy?
edit: these are trusted family and friends, so i will not be getting scammed