Shapeshift
Moves to Membership Model Requiring User Information!
I think crypto services are being forced to move to such models.
That sounds like suicide for their service. I haven't extensively looked into the article, but if you need to create an account, plus additional KYC, what exactly are the upsides of their service compared to Binance?
It seems like it really just defeats the purpose of their "Instant exchange" model. I'm afraid that sooner rather than later another Instant exchange such as Changelly is going to completely dominate the market.
I've checked the article now -- Nowhere does it state if they're introducing this because it is required by law.. Seems like an extremely stupid move.
Yeah, I think they'll realise this real quick and either scrap this altogether or pursue some other way around it (possibly a move to one of 'em upcoming blockchain islands maybe?).
It may not be a legal requirement yet but if I recall, they were involved with enforcement in freezing funds sent to them when they were given the addresses of the thieves. That partnership probably gave them some good marketing, so it's possible they wanted to leverage on that - at the cost of their customers' privacy.
Them atomic swapping Dexes will want to hurry up and displace the ilk of Shapeshifter.