Why does GDAX require my driver's license for cryptocurrency trading?

4 answers

• RobinJul 08, 2021 · 4 years ago
  GDAX requires your driver's license for cryptocurrency trading as part of their KYC (Know Your Customer) process. This is a standard procedure followed by most reputable exchanges to ensure compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. By verifying your identity with a driver's license, GDAX can prevent fraudulent activities and protect the integrity of their platform.
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• JonathanvApr 03, 2024 · a year ago
  In order to maintain a secure trading environment, GDAX requires users to provide their driver's license for cryptocurrency trading. This helps prevent identity theft, money laundering, and other illegal activities. By verifying your identity, GDAX can ensure that only legitimate users are participating in cryptocurrency trading, making it a safer platform for everyone.
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• adrDFeb 11, 2024 · a year ago
  As a cryptocurrency exchange, GDAX needs to comply with regulatory requirements and ensure the safety of its users. Requesting a driver's license is a common practice in the industry to verify the identity of traders. This helps prevent fraud and illegal activities, such as money laundering and terrorist financing. GDAX takes the security of its platform seriously and strives to create a trustworthy trading environment for its users.
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• Mohamed SameerNov 26, 2023 · 2 years ago
  When it comes to KYC (Know Your Customer) procedures, GDAX is no exception. By asking for your driver's license, GDAX aims to verify your identity and ensure that you are a legitimate user. This helps protect the platform from fraudulent activities and provides a safer trading experience for all users. Remember, it's important to trade on platforms that prioritize security and compliance to safeguard your investments.
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