Post
Topic
Board Service Discussion
Re: BitPay -- KYC is here!
by
PrimeNumber7
on 10/08/2019, 16:17:35 UTC
I also wonder if they'll be aggregating multiple purchases together over time to trigger the threshold.
This is almost certainly never going to happen.

The process for confirming KYC information is to verify the information prior to the transaction being initiated, so they will have no way of knowing if your history meets the threshold to require them to have verified your KYC information.

I strongly suspect that they are under scrutiny from various regulators being the largest bitcoin payment processor, and this change is probably to appease a regulator somewhere.