Topic: Binance Singapore Blocks Withdrawals to Privacy-Focused Bitcoin Wallet - page 2. (Read 165 times)
December 20, 2019, 03:40:43 AM
I rarely use binance, so I don't really care about problems like that, but some time ago I had a discussion with people who can not make withdrawals in binance, they get a message from binance that binance is suspicious of their transaction, maybe because binance sets new rules.
December 20, 2019, 01:21:14 AM
A user of Binance Singapore has reported a rather worrying development for those Bitcoin users that value their privacy. The exchange platform has apparently banned the customer in question from withdrawing its funds because it suspects that he or she has previously used a wallet with a built-in coin mixing tool.
Twitter user Catxolotl (@bittlecat) reported that it received a message from Binance Singapore informing them that their withdrawals have been suspended due to “risk management.” The trader queried this with the exchange, which responded by stating that the company has reason to believe the individual used coin-mixing service CoinJoin. This is a standard feature of the privacy-focused wallet Wasabi.
Source link here
In the next few years, centralised exchanges are going to be a thing of the past. Decentralised exchanges (DEXs) are the future.
I had to admit that KYC plays an important role today and in the future for AML purposes, but users like us don't have the control of our own funds as long it is stored in centralised exchanges.
If the customer or trader doesn't want to have withdrawal limits or control, they should go to decentralised exchanges.
What would be your reaction to this one guys? Looking forward to hear them out. Cheers!
Twitter user Catxolotl (@bittlecat) reported that it received a message from Binance Singapore informing them that their withdrawals have been suspended due to “risk management.” The trader queried this with the exchange, which responded by stating that the company has reason to believe the individual used coin-mixing service CoinJoin. This is a standard feature of the privacy-focused wallet Wasabi.
Source link here
In the next few years, centralised exchanges are going to be a thing of the past. Decentralised exchanges (DEXs) are the future.
I had to admit that KYC plays an important role today and in the future for AML purposes, but users like us don't have the control of our own funds as long it is stored in centralised exchanges.
If the customer or trader doesn't want to have withdrawal limits or control, they should go to decentralised exchanges.
What would be your reaction to this one guys? Looking forward to hear them out. Cheers!
Jump to: