Why does Coinbase require identity verification again?

3 answers

• Trung ĐứcDec 21, 2023 · 2 years ago
  Coinbase requires identity verification multiple times to ensure the security and compliance of its platform. By verifying users' identities at different stages, Coinbase can prevent fraud, money laundering, and other illegal activities. This helps to protect both the platform and its users from potential risks and ensures a safer trading environment. So, even though it may seem repetitive, it is an important measure taken by Coinbase to maintain the integrity of its services.
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• UN_F_AP_YDSep 03, 2021 · 4 years ago
  Coinbase asks for identity verification again to comply with regulatory requirements. As a regulated cryptocurrency exchange, Coinbase is obligated to follow Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. These regulations require Coinbase to verify the identity of its users and monitor their transactions to prevent illegal activities. By asking for identity verification multiple times, Coinbase can ensure that it is in compliance with these regulations and maintain a trustworthy reputation in the industry.
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• Sanjay MohanAug 29, 2020 · 5 years ago
  As an expert in the cryptocurrency industry, I can tell you that Coinbase is not the only exchange that requires identity verification multiple times. Many other reputable exchanges also have similar requirements. This is because identity verification is a crucial step in preventing fraud and ensuring the security of the platform. By verifying users' identities at different stages, exchanges can mitigate the risk of unauthorized access, account takeovers, and other security breaches. So, while it may seem inconvenient, it is a necessary measure to protect users' funds and maintain the overall security of the exchange.
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