What are the reasons for Coinbase constantly requesting verification?

3 answers

• kishan patelNov 11, 2024 · 9 months ago
  Coinbase constantly requests verification from its users for several reasons. Firstly, it is a regulatory requirement for financial institutions to verify the identity of their customers to prevent money laundering and fraud. Secondly, Coinbase wants to ensure the security of its platform and protect its users' funds by verifying their identities. Lastly, verification helps Coinbase comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, which are necessary for operating in the cryptocurrency industry.
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• ForumWarriorMar 30, 2024 · a year ago
  Coinbase keeps asking for verification because they want to make sure that their platform is safe and secure for all users. By verifying the identity of their users, Coinbase can prevent unauthorized access and protect against fraudulent activities. It also helps them comply with regulatory requirements and maintain a trustworthy reputation in the cryptocurrency market.
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• James Gascoigne-BurnsMay 21, 2023 · 2 years ago
  As a leading cryptocurrency exchange, Coinbase takes user security and regulatory compliance seriously. The constant request for verification is part of their efforts to ensure a safe and transparent trading environment. By verifying user identities, Coinbase can mitigate risks associated with money laundering, fraud, and other illegal activities. It also helps them build trust with their users and maintain a strong reputation in the industry.
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