Kraken now won't let me access my account without doing the KYC procedure. Fortunately I only left some dust in my account the last time I used them--and I won't, ever again.
seriously? damn, i was thinking about creating an account there because the lower verification tiers (crypto deposit/withdrawal only) dont require ID. which tier of verification were they demanding?
Never used Bitstamp, but I know they're one of the big players. They probably want to know about your net worth and all of that in order to make recommendations or whatever--and I'm thinking and typing here, because some stock brokerages ask the same sorts of questions. I just signed up with Robinhood, and I had to answer the same stuff.
that makes more sense with securities because some securities can only be sold to
accredited investors under SEC rules. with cryptocurrencies i've never heard of anything like this.