Topic: Withdrawal Issues, KYC/AML and cryptocurrency exchange regulations in 2019 (Read 743 times)
April 10, 2019, 05:07:04 PM
I do not use exchanges that require the mandatory KYC. Privateness and decentralization are the foundation of crypto. First of all, I'm not sure that my data will be stored securely. Secondly, I think that those who want to launder money are more likely to find a way to falsify KYC and circumvent the rules. Therefore, this procedure in this area does not work in the direction that is implied. But anyway thanks for this thread, i will bookmark it, there are a lot of important info for me here.
April 10, 2019, 05:00:03 PM
For trading the altcoins I never send my documents for passing the required KYC procedure. Noone is responsible if I get in the trouble with a hardcopy of my documents. For fiat transactions, I only use 2 exchanges and they are safe from my point of view.
April 10, 2019, 04:22:08 PM
Great post! Hope this will help people to understand the basic definitions of crypto currencies. But I am really afraid that we would have too much regulations on crypto currencies market which aim was always anonymity.
Thank you 
Yes, I agree the market tends to be regulated, which goes against the main principles of cryptocurrencyYes, the system promised anonymity and like you see in the case of Binance, they are not completely imposing the KYC, that is why we are left with two options, not to get verified and have limit transactions and get verified to have unlimited transaction, and why should we even be so bothered about our identity if our hands are clean, only a criminal gets scared of being caught and in turn protects his or her identity.
April 09, 2019, 04:40:39 AM
KuCoin realizes the possibility of instant deposit / withdrawal of funds in US dollars
This Monday, the KuCoin cryptocurrency exchange announced the upcoming “launch of the first of its kind” option, thanks to which users will be able to instantly buy cryptocurrency for US dollars and perform operations in the opposite direction. The possibility depositing/withdrawing funds in dollars will be realized together with a strategic partner whose name the exchange does not specify.
Also, KuCoin published a video in which it demonstrated how the new feature will work. For example, the user will be able to enter the desired BTC number for the purchase on the exchange website, then receive information on the required amount in US dollars and a QR code, which will need to be scanned using the wallet application for further confirmation of the transaction.
The exchange does not specify what restrictions will apply to the use of the service and the size of the applicable fees.
This Monday, the KuCoin cryptocurrency exchange announced the upcoming “launch of the first of its kind” option, thanks to which users will be able to instantly buy cryptocurrency for US dollars and perform operations in the opposite direction. The possibility depositing/withdrawing funds in dollars will be realized together with a strategic partner whose name the exchange does not specify.
Also, KuCoin published a video in which it demonstrated how the new feature will work. For example, the user will be able to enter the desired BTC number for the purchase on the exchange website, then receive information on the required amount in US dollars and a QR code, which will need to be scanned using the wallet application for further confirmation of the transaction.
The exchange does not specify what restrictions will apply to the use of the service and the size of the applicable fees.
April 08, 2019, 10:23:26 AM
Great post! Hope this will help people to understand the basic definitions of crypto currencies. But I am really afraid that we would have too much regulations on crypto currencies market which aim was always anonymity.
Thank you Yes, I agree the market tends to be regulated, which goes against the main principles of cryptocurrency 
April 08, 2019, 10:02:19 AM
Great post! Hope this will help people to understand the basic definitions of crypto currencies. But I am really afraid that we would have too much regulations on crypto currencies market which aim was always anonymity.
April 08, 2019, 09:01:36 AM
Well since the cryptocurrency operate within the financial economic system it is best it activities are protected by some legal procedures not only to the advantage of the government but also to crypto users also. Despite the fact that some of the regulations process go against the nature of cryptocurrency which is anonymous and privacy it also important for it to be flexible in other to avoid accuracy that may harm the whole system.
April 08, 2019, 08:37:38 AM
Paxful Estonian p2p cryptocurrency exchange “froze millions of funds of thousands of Nigerians”
The Economic and Financial Crimes Commission (EFCC) of Nigeria received a collective statement from the non-governmental organization United Global Resolve for Peace (UGRP) on the Paxful Stock Exchange. According to the UGRP, the Estonian p2p exchange illegally holds millions of dollars on thousands of accounts in Nigeria.
Africa provides Paxful monthly cryptocurrency turnover of more than $ 40 million dollars, transfers from Nigeria bring the main income from the work on the continent to the site.
The magnitude of demand is influenced by two factors: two-year inflation in the country, depreciating the local currency by 90% and the ability to circumvent economic sanctions by gaining access to dollars and euros by cashing out gift cards iTunes, Walmart and other bonus programs, the exchange, and credit which the cryptocurrency exchange supports.
The Economic and Financial Crimes Commission (EFCC) of Nigeria received a collective statement from the non-governmental organization United Global Resolve for Peace (UGRP) on the Paxful Stock Exchange. According to the UGRP, the Estonian p2p exchange illegally holds millions of dollars on thousands of accounts in Nigeria.
Africa provides Paxful monthly cryptocurrency turnover of more than $ 40 million dollars, transfers from Nigeria bring the main income from the work on the continent to the site.
The magnitude of demand is influenced by two factors: two-year inflation in the country, depreciating the local currency by 90% and the ability to circumvent economic sanctions by gaining access to dollars and euros by cashing out gift cards iTunes, Walmart and other bonus programs, the exchange, and credit which the cryptocurrency exchange supports.
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April 05, 2019, 09:03:27 AM
From your list binance is still the only exchange that goes easy on people who are not ready to drop there KYC info and thee are few other exchanges that doesn't even request profile like changelly.com ,just send coins or tokens and get them swapped ,easy as that and to me they are the safest
That is why I still recommend my friends to use binance for trading and don't use the other exchanges if they don't want to complete KYC. Binance still is the best for me, and it works perfectly, and I am sure that it's happening too with the other people. But I don't mind to complete KYC in poloniex and bittrex since I already upgrade my account for almost 2 years ago.
April 05, 2019, 08:23:42 AM
The problems started after a really big hyip. I think that cryptocurrency in any case will be regulated and we will be able to suffer very much. I hope that nothing bad will happen and nothing bad will happen.
April 05, 2019, 08:11:40 AM
BitMEX will pay compensation to customers due to failure
BitMEX, which offers various trading products using leverage for Bitcoin and other cryptocurrencies, automatically closed the positions of some customers when prices for BTC and ETH were rising. This happened as part of a process known as automatically closing risky market positions.
According to the company, the number of affected positions was minimal, while online commentators noted that as of April 2, the amount of funds involved in the situation was already $ 500 million in Bitcoin. Bitcoin rose unexpectedly this week, gaining almost $ 1,000 in one day, and then the price peaked at $ 5,330.
A sudden increase in trading activity took BitMEX by surprise, and now the site leaders promised to pay compensation to each of the approximately 200 affected customers.
BitMEX, which offers various trading products using leverage for Bitcoin and other cryptocurrencies, automatically closed the positions of some customers when prices for BTC and ETH were rising. This happened as part of a process known as automatically closing risky market positions.
According to the company, the number of affected positions was minimal, while online commentators noted that as of April 2, the amount of funds involved in the situation was already $ 500 million in Bitcoin. Bitcoin rose unexpectedly this week, gaining almost $ 1,000 in one day, and then the price peaked at $ 5,330.
A sudden increase in trading activity took BitMEX by surprise, and now the site leaders promised to pay compensation to each of the approximately 200 affected customers.
April 04, 2019, 08:49:51 AM
Cryptopia has transferred 50% of cryptocurrency to new wallets. Users complain about the slowness of the platform
The New Zealand cryptocurrency exchange Cryptopia, which suffered from the actions of hackers in the middle of January, transferred half of the 457 cryptocurrencies presented in the listing into wallets with new private keys.
At the same time, withdrawal of funds still remains unavailable. Particularly, users are outraged by the fact that all this happens during a period of active growth in the price of Bitcoin.
Recall that Cryptopia has been trying to restore functionality since February. The exchange has already resumed trading in 40 cryptocurrency pairs and activated the API. Also, the site management announced its intention to return funds to affected users and has already credited tokens to users' accounts, which fix the amount of payments due to them.
The New Zealand cryptocurrency exchange Cryptopia, which suffered from the actions of hackers in the middle of January, transferred half of the 457 cryptocurrencies presented in the listing into wallets with new private keys.
At the same time, withdrawal of funds still remains unavailable. Particularly, users are outraged by the fact that all this happens during a period of active growth in the price of Bitcoin.
Recall that Cryptopia has been trying to restore functionality since February. The exchange has already resumed trading in 40 cryptocurrency pairs and activated the API. Also, the site management announced its intention to return funds to affected users and has already credited tokens to users' accounts, which fix the amount of payments due to them.
April 03, 2019, 07:02:52 AM
Japan's FSA has registered two more cryptocurrency exchanges
The Japan Financial Services Agency (FSA) has approved two new applications filed by the Rakuten Wallet Co. cryptocurrency exchanges. Ltd. and Decurret co. Ltd.
After the announcement of the FSA, Rakuten Inc. issued a press release confirming that its subsidiary Rakuten Wallet Inc. was registered as a “virtual currency exchange service provider” and announced that it will launch the exchange in April.
Startup Decurret also announced the completion of registration as a cryptocurrency exchange and the launch of its services. According to the information on the FSA website, Decurret will support BCH, BTC, ETH, LTC and XRP.
The Japan Financial Services Agency (FSA) has approved two new applications filed by the Rakuten Wallet Co. cryptocurrency exchanges. Ltd. and Decurret co. Ltd.
After the announcement of the FSA, Rakuten Inc. issued a press release confirming that its subsidiary Rakuten Wallet Inc. was registered as a “virtual currency exchange service provider” and announced that it will launch the exchange in April.
Startup Decurret also announced the completion of registration as a cryptocurrency exchange and the launch of its services. According to the information on the FSA website, Decurret will support BCH, BTC, ETH, LTC and XRP.
April 02, 2019, 11:52:35 AM
Until now i didn't made kyc on any exchange i use, because they still offer service without asking it, i hope to not ask kyc so i can still use exchange without doing KYC, to trade BTC/altcoins or altcoins/BTC.
April 02, 2019, 11:47:55 AM
There are really a lot of problems, but now you can work and not withdraw fiat money from the exchanges, why bother to do it at all? I don't think that this is a good idea at all. Just today you can live on BTC
April 02, 2019, 10:06:46 AM
From your list binance is still the only exchange that goes easy on people who are not ready to drop there KYC info and thee are few other exchanges that doesn't even request profile like changelly.com ,just send coins or tokens and get them swapped ,easy as that and to me they are the safest
April 02, 2019, 09:30:58 AM
Coindelta Cryptocurrency Exchange closed in India
Indian cryptocurrency exchange Coindelta suspended work due to the adverse regulatory climate in the country
Representatives of Coindelta said that the marketplace faced severe restrictions on the use of banking services, which contributed to a significant increase in transaction costs. Subsequently, doing business was simply unprofitable.
Also, Coindelta noted that they do not see progress in creating a favorable legal environment on the part of the country's authorities.
Representatives of the company stressed that all trading operations on the platform were suspended on March 30. Orders are also closed, and funds are returned to users' wallets. The work of the latter will be extended until April 29.
Indian cryptocurrency exchange Coindelta suspended work due to the adverse regulatory climate in the country
Representatives of Coindelta said that the marketplace faced severe restrictions on the use of banking services, which contributed to a significant increase in transaction costs. Subsequently, doing business was simply unprofitable.
Also, Coindelta noted that they do not see progress in creating a favorable legal environment on the part of the country's authorities.
Representatives of the company stressed that all trading operations on the platform were suspended on March 30. Orders are also closed, and funds are returned to users' wallets. The work of the latter will be extended until April 29.
April 01, 2019, 10:30:38 AM
CRYPTOCURRENCY EXCHANGE NANEX STATED A CLOSING
Since October 2018, trading volumes on the platform did not exceed several thousand dollars per day, and recently they have dropped by an order of magnitude, while the number of its customers being online at the same time has reached 2-3 people.
Most of the assets have been withdrawn from the exchange by users today, but there are still funds on its hot wallets, which Nanex are also asked to withdraw as soon as possible - however, not later than 04/30/2019, when the cryptocurrency exchange server stops working.
Since October 2018, trading volumes on the platform did not exceed several thousand dollars per day, and recently they have dropped by an order of magnitude, while the number of its customers being online at the same time has reached 2-3 people.
Most of the assets have been withdrawn from the exchange by users today, but there are still funds on its hot wallets, which Nanex are also asked to withdraw as soon as possible - however, not later than 04/30/2019, when the cryptocurrency exchange server stops working.
March 29, 2019, 08:34:40 AM
It is always better to pass the KYC on every exchange, for sure if you have done your investigation and this exchange is legit. You are getting faster withdrawal channels, getting different airdrops and faster service.
March 29, 2019, 08:27:26 AM
KuCoin has introduced the option of buying cryptocurrencies using credit cards
The Singapore cryptocurrency exchange KuCoin has added the ability to buy cryptocurrency using credit cards.
Now KuCoin users can buy Bitcoins (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash ABC (BCHABC) and Litecoin (LTC) for dollars and euros. According to the announcement, the service is already available in more than 100 countries.
Card payments will be processed by the Israeli processing company Simplex, which provides its services to such major industry players as Shapeshift, Litecoin Foundation, Xapo and Changelly.
The Singapore cryptocurrency exchange KuCoin has added the ability to buy cryptocurrency using credit cards.
Now KuCoin users can buy Bitcoins (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash ABC (BCHABC) and Litecoin (LTC) for dollars and euros. According to the announcement, the service is already available in more than 100 countries.
Card payments will be processed by the Israeli processing company Simplex, which provides its services to such major industry players as Shapeshift, Litecoin Foundation, Xapo and Changelly.
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