3 ms·

Yea, I've heard that crypto currencies exchanges require you to send your photo while holding your ID weird

• emteycz 6y ago
  That's because of lawful KYC requirements.
• xxs 6y ago
  Of course, it's like signing for bank account. It's not because of the crypto itself, but the standard money/forex part.
  • tester34 6y ago
    >Of course, it's like signing for bank account. with the difference that the bank is relatively trusted entity backed by shitton of formality meanwhile crypto exchanges seems to be more shady orgs with 30 yo CEOs
    • input_sh 6y ago
      They still have to do that due to anti-money-laundering rules: https://en.wikipedia.org/wiki/Know_your_customer https://en.wikipedia.org/wiki/Know_your_customer This originates from what was at the time the least controversial part of the Patriot Act. If you want to be able to exchange cryptocurrencies to a Visa/Mastercard, the service needs your ID, regardless of where you're from.
• mhh__ 6y ago
  I bought some crypto on one of the local_x sites and the guy made me write _by hand_ a letter about my ID being real. A "do you want the money or not" conversation ensued.