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I can tell you haven’t worked in a regulated industry, there is almost no regulation. Most of the stuff you list is simple stuff done to meet KYC rules that mo

I can tell you haven’t worked in a regulated industry, there is almost no regulation. Most of the stuff you list is simple stuff done to meet KYC rules that most exchanges were initially delinquent in implementing and only did so when it was pointed out the obvious liability they were taking on not implementing them. For regulated securities products there are all sort of approvals needed from the product itself to the marketing materials. There are rules about suitability of the product, transparency over commissions and fees, licensing and registration of market participants, market data rules. That’s all just the tip of the iceberg.

paulpauper 5y ago
this does not refute my personal experience. took me 3 days to trade on ameritrade, and I could withdraw $ in days too. Coinbase req.photo ID tons of other stuff to withdraw crypto. way different. >Most of the stuff you list is simple stuff done to meet KYC rules that most exchanges were initially delinquent in implementing and only did so when it was pointed out the obvious liability they were taking on not implementing them. That is my point. they were. not anymore.