And now I go to Cryptsy and notice a withdrawal limit of $25/$100 for non-KYC required products (digital coins). Don't quite like this additional "update/upgrade".
Why limit withdrawals? What's the basis for this?
EDIT: What's more interesting... "tier 1" is in no way KYC compliance as it is only a "tell me who you are and I'll trust you" level. KYC mandates for the US verification at any level (read no verification as a limit of 0, not $25/$100 or $2000/$10,000)
I'm really curious what the basis is for this new intrusion of privacy. Show us who is requiring you to know who we are or else we're forced to conclude that you're just attempting to restrict and/or reduce withdrawals from your wallets.
I agree, 25 USD per day or 100 USD per month are random values Cryptsy just made up. They were surely not commanded to use such values by FINCEN or some other goverment agencies. Such low amount of coins per day or month are not enough for
anything unless one lives in very poor 3rd world country. Definitely not enough to conduct money laundering, terrorism, drug trade or anything else along those lines so I'd say it is about what you've said in your last sentence, "restrict and/or reduce withdrawals from your wallets".
And what about dozens of wallets which are offline for a lot of time now, like Crypti (XCR) or Huntercoin (HUC)? No amount of community or even developer involvment works, all requests posted on Twitter and elsewhere are ignored and tickets sent to suport are always saying "we will fix that soon" with no fixes for months.