Bitstamp Asks Users To Provide Additional Information Including the Source of Their Crypto
The Bitstamp crypto exchange sent emails to its users on Wednesday informing them of the policy change and asking them to provide further information.
“We work closely with our regulatory partners to ensure we continue to be your trusted exchange. Towards this, we need your account information to be updated to provide you with the latest products and crypto,” the email reads.
In addition, the exchange has officially published a number of papers that include fiat-related sources of wealth of deposited funds, such as savings payslips, income and pension receipts, mining payslips, inheritance documents, gifts, and other documents. Withdrawals, deposits, login information, handwritten agreements, screenshots, and other crypto-related data are also available.
The platform also asks users to provide legal documents such as tax residency, nationality, and place of birth, as well as information about their net worth and yearly income, annual deposit projections, anticipated platform activities, and sources as assets.
Bitstamp gave its users rewards for supplying the essential information on March 30 before sending the current notice.
“If you want to keep on using our services, you’ll need to update your account as some information is out of date. As a “Thank You!” we will reward you with a $25 bonus once you have completed your account info.“
Those who do not follow the rules may not only lose their chances of receiving rewards but their accounts may also be suspended, making them unable to withdraw payments from Bitstamp. As a result, the exchange previously blocked crypto and fiat withdrawals for European users who failed to update their information regarding the source of their deposited monies’ value.
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