Can you legally own foreign currency in the United States?

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Question: Can you legally own foreign currency in the United States?

Answer: Yes, you can legally own foreign currency in the United States. However, if you are traveling with more than $10,000 in foreign currency or other monetary instruments, you are required to declare it to U.S. Customs and Border Protection. Additionally, if you are investing in foreign currency or using it for business purposes, you may be subject to tax reporting requirements.

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