Post
Topic
Board Altcoin Discussion
Re: Withdrawal Issues, KYC/AML and cryptocurrency exchange regulations in 2019
by
hakertajniak
on 15/02/2019, 02:42:32 UTC

To sum up, we think that more and more reliable cryptocurrency exchanges require the strict AML/KYC procedure for their customers. The reason is that it is the most efficient way to protect themselves against illegal actions as well as protect their users from unpredictable circumstances that can lead to accounts frozen and even to the close of the cryptocurrency exchange. This fact goes against anonymous and decentralization but corresponds to current conditions in the market.


Yeah, because there were several hacking activities in the cryptocurrency world,
big exchanges like binance will requring some KYC to prevent withdrawal with large amount by any illegal parties such as hackers.
Against with anonymous, yet effective to prevent fund leaks.