Why does Poloniex require SSN for cryptocurrency trading?

3 answers

• Amelie KnapeFeb 04, 2025 · 6 months ago
  Poloniex requires users to provide their SSN for cryptocurrency trading in order to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. These regulations are in place to prevent illegal activities such as money laundering and terrorist financing. By verifying the identity of their users, Poloniex aims to create a secure and trustworthy trading environment.
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• David SargsyanAug 01, 2023 · 2 years ago
  The requirement of providing SSN by Poloniex is a common practice among cryptocurrency exchanges. It helps to ensure that users are not engaging in fraudulent activities and allows the exchange to comply with regulatory requirements. While some users may find it inconvenient, it is ultimately for the safety and security of all users on the platform.
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• TsailinAug 26, 2022 · 3 years ago
  As an expert in the cryptocurrency industry, I can assure you that the requirement of providing SSN by Poloniex is a standard procedure followed by most reputable exchanges. It is important to understand that cryptocurrencies have been associated with illegal activities in the past, and exchanges like Poloniex have a responsibility to implement measures to prevent such activities. By requiring SSN, Poloniex can verify the identity of its users and ensure a safer trading environment for everyone involved.
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