Why does Coinbase require ID verification?

3 answers

• May 07, 2022 · 3 years ago
  Coinbase requires ID verification to ensure compliance with anti-money laundering (AML) and know your customer (KYC) regulations. This helps prevent fraud, money laundering, and other illegal activities on the platform. By verifying users' identities, Coinbase can maintain a secure and trusted environment for buying, selling, and storing cryptocurrencies.
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• May 07, 2022 · 3 years ago
  ID verification is a standard practice in the cryptocurrency industry. Coinbase, like many other exchanges, follows strict regulatory guidelines to prevent illicit activities. By verifying users' identities, Coinbase can also provide enhanced security measures and protect users' funds from unauthorized access.
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• May 07, 2022 · 3 years ago
  As a digital currency exchange, Coinbase is committed to maintaining a high level of security and compliance. ID verification is an essential step in ensuring the legitimacy of user accounts and preventing fraudulent activities. By requiring ID verification, Coinbase aims to create a safe and transparent trading environment for its users.
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