What is the reason behind Poloniex wanting SSN?

3 answers

• MEDMar 30, 2023 · 2 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.
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• Daniyal Qamer DQMar 09, 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.
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• Aman JhaJan 10, 2021 · 5 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.
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