According to emails sent to already registered users, bitfinex is intensifying its KYC process to be more and more strict. So additional informations are going to be asked to the customers, even to those already registered and verified.
So what is asked more?
- to update existing documents;
- to provide informations about some transactions;
- to provide informations about source of funds;
- to provide bill as a proof of addresses;
- to explain the reasons for their activity and which are they goals:
According to them, all informations provided are maintained with maximum privacy and discretion.
Paolo Ardoino, head of technology office, has said:
While we do allow unverified customers on our platform to engage in limited trading activities, we always work to ensure that all customers – both verified and unverified – are respecting the same ground rules
So the battle against crime, as always, is impacting mostly on honest people who must have their privacy every day more compromised. You have always to disclose a lot of personal details and documents only to execute some purchase. All those informations are disclosed to people who you dont know and you are not sure how them will be managed.
We see a future, not so far, where purchasing bitcoin on a kyc exchanger will become really impossible and more and more users will go to decentralized exchangers where privacy is stronger.