I read various regulation guidelines for exchanges in different countries, and I think the policies are very unfavourable for usual customers. I get it that money laundering is a problem, but if terrorism is not a good enough reason to invade privacy of people, I don't think this one is. In some countries, crypto exchanges are obliged not only to know all of their customers and investigate suspicious cases but also to keep records of all of the transactions and make regular reports to the authorities.
I think that customers with low volumes should not be bothered and looked into when it comes to AML policies.
I think that customers with low volumes should not be bothered and looked into when it comes to AML policies.
True. Here in the country I'm currently staying, my account was banned and my funds are on hold because I haven't submitted my banking details, where the funds come from every month and the nature of my trades. It truly sucks that AML regulations be that tight when I'm only trading not even a thousand dollars on my account, and knowing that I'm not even in my home country is what really grinds my gears. They wouldn't be able to come up with a generalized AML regulation that will work country-to-country and that's for sure.
