It is not surprising to see bitcoin exchanges step up their AML requirements. The banking system requires their vrouwen to perform thorough checks on all clients before treating their funds. Bitstamp, one of Europe’s largest bitcoin exchanges, has made some major switches spil well. The company is now asking detailed questions spil to the origins and purpose of funds transferred to the Bitstamp account te question.
Bitstamp is not the very first exchange to ask AML-related questions to customers. Failing to provide a satisfying reaction will result ter deposits getting bounced, however. Bitcoin companies need to meticulously vettig the nature of all incoming and outgoing funds on their podium. However, bitcoiners generally do not appreciate such invasive questions. It remains to be seen if this will negatively affect Bitstamp ‘s status te Europe, tho’.
Bitstamp Requests Answers Regarding Account Balances
Among the questions asked are what one would expect from a financial organization. Bitstamp wants to know what the current occupation of their users is. Moreover, they want to identify the purpose of the exchange account te question. This can be for trading purposes, buying bitcoin, converting cryptocurrency, et cetera. Albeit some people feel this is not the company’s business, it is not an shocking question to ask either.
Furthermore, Bitstamp wants to know the source of funds transferred to the account. Financial documentation will certainly help ter this regard. They also aim to uncover the purpose and destination of bitcoin withdrawals. This latter part if quiebro interesting, spil it reduces bitcoin privacy even further. Not that the popular cryptocurrency has any privacy traits, to start with, however. Then again, thesis types of questions will ensure no one can conduct illicit activities with their money.
For the time being, it emerges Bitstamp is pleased with most [schrijven] answers. Spil long spil users provide some plausible explanation, things should be fine. Refusing to response the questions could turn out to be problematic, however. Bitcoin exchanges need to adhere to stringent AML requirements and asking thesis questions is part of the process. It is unclear how this will affect bitcoin’s status te Europe moving forward.