Poloniex has posted an "open letter" about this: https://poloniex.com/press-releases/2015.05.19-Open-Letter
tl;dr - Fincen made us.
My feelings remain the same, I respect their right to do this, I just wish they had respected their users more by giving us enough lead time to orderly remove our coins from their exchange.
Good Luck.
tl;dr - Fincen made us.
My feelings remain the same, I respect their right to do this, I just wish they had respected their users more by giving us enough lead time to orderly remove our coins from their exchange.
Good Luck.
Thanks. $7,000.00 USD equivalent in a 24-hour period is only when you need to upload docs looks like. So it's absolutely irrelevant at least for me while I am not a millionaire still like the people complaining. I didn't even thought such amounts are withdrawn daily
Wow!In other words, withdraw all your BTC now before it's worth $7k+ each and you're screwed. Or at least that's how I'm reading it.
I also understand it that way. Balances below $2k could possibly be withdrawn without any verification (or am I missing something here?). However, once the amount reached $2k, tier 1 verification is mandatory before you can withdraw your assets.
I thought of something, if you want to get rid of the tier 2 verification process, you can withdraw your assets little by little without raising any red flags from Poloniex. Or will it also raise an alarm when the sum of the withdrawn assets reach $2000? As I understand it, you couldn't withdraw amounts of $2k in a 24-hour period so I think that withdrawing little by little would work without complying to the verification method.
