Post
Topic
Board Service Discussion
Re: Crypto-Bridge Just sprung KYC on everyone today - No notice given
by
TimeTeller
on 01/10/2019, 23:52:55 UTC
Guess I'll just have to take a hit on this one. :/
And there we go.

This is exactly what exchanges which implement KYC with no warning are counting on. Privacy conscious users abandoning their coin(s).

I would try to use photoshop on any document and send it to KYC.
I know it is not right. However, those exchanges are not right either. Suddenly enforcing KYC is a theft.

It's actually not a theft. Regulators nowadays are very strict regarding this. The exchange only fault was not informing the users in advance. But I believe OP got a hint when US citizen requires KYC which he stated. Actually, the exchange can't do anything when regulators ask for it since it's require for AML. It's either to force close or force user to submit KYC.

CB should have sent an email in advance regarding this new policy.
So users can opt to retain their coins or not.
But CB I believe intentionally does this move so users will be obliged to comply their KYC requirements, else, the coins will be in their possession.
So you can consider it as cheating tactic. This new policy has been in discussion for such certain period within their management.
It is not that they came up with this policy a day before they posted it on their website.
Too bad for those who don't want to undergo KYC with coins in that exchange.