Quote from: Baofeng on July 20, 2019, 02:29:11 AM

Quote from: Ambucrypto369 on July 16, 2019, 04:32:11 PM

What happened to local bitcoin trading site..do to the sudden implementation of KYC procedure regular traders getting shocked with the limitation of LBC trading... already we facing various issues from government sides, then the sudden KYC implementation gives negativity so the traders are decreases day by day. Finally the KYC procedure not user friendly, If we produce the right id proofs then also getting rejected. If it continues we dont no what happen to LBC next?

Everything that involves bitcoin is somewhat prone to regulatory framework, and that's what happen to LBC. This is just part and parcel of crypto now, governments are really taking a stance and putting pressure to exchanges not just LBC but high tiered exchanges. LBC will continue its services as long as they comply. So it really boils down as to whether you would like to verify yourself and continue using their business.

The more crypto grows, the more it becomes stricter a little in its operation, and even if such user does not like the issue of the KYC, he has no choice than to abide by it, except he wants to leave the cryptocurrency space completely, because if you take a look at all the companies., all the project s and all the exchanges we have.

They virtually do not joke with that policy and every one of them has implemented it, so even if you run from one exchange, you will definitely meet another exchange, that is how kyc has gone far to the extent of hunters doing kyc too lol. What I have only seen many people advise about this is that we need to just ensure we comply with KYC on a site that will protect the identity and keep the data collected secret as promised.