What is the reason behind Poloniex wanting SSN?

3 answers

• May 05, 2022 · 3 years ago
  Poloniex requires users to provide their Social Security Number (SSN) as part of their KYC (Know Your Customer) process. This is to comply with regulatory requirements and prevent money laundering and fraud. By verifying the identity of users, Poloniex aims to create a safer and more secure trading environment for its users.
  326

  163
• May 05, 2022 · 3 years ago
  The reason behind Poloniex wanting SSN is to ensure compliance with anti-money laundering (AML) and know your customer (KYC) regulations. By collecting SSN, Poloniex can verify the identity of its users and prevent illicit activities such as money laundering and terrorist financing. This helps to maintain the integrity of the cryptocurrency market and protect users from potential risks.
  389

  130
• May 05, 2022 · 3 years ago
  As a third-party digital asset exchange, BYDFi is not directly involved in Poloniex's decision to require SSN. However, it is common for cryptocurrency exchanges to implement KYC procedures, which may include collecting personal information such as SSN. This is to comply with regulatory requirements and ensure a safe and transparent trading environment for users.
  365

  92