Bitstamp Exchange Really Wants to Know Its Customers... Everything!

Written by:
Guest
Published on:
Jan/11/2018

Bitcoin.com is reporting that Slovenia’s Bitstamp exchange has enhanced its Know Your Customer (KYC) policy and some of the requirements to withdrawal funds are a little over the top.


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From Bitcoin.com:

A widely circulated image, purporting to reveal Bitstamp’s enhanced KYC procedure, has been attracting a lot of attention. The document requests screenshots of other cryptocurrency exchange profiles, bank account statements showing fiat deposits to third party exchanges, and signed messages from the BTC and ETH addresses the customer intends to use.

Because government agencies are becoming inherently suspicious of cryptocurrencies, the exchanges are obligated to closely adhere to the laws within their respective jurisdiction.  In the case of BitStamp, they are required to follow Slovenia law.

BitStamp may be stretching things a bit and who better to catch this than the one and only Warren Buffet.

He tweeted this image reportedly coming from the BitStamp website:

Bitcoin News is quick to point out that, despite this overzealous quest for customer information, BitStamp enjoys a relatively solid reputation in the world of cryptocurrencies, save save for a hack of 19,000 BTC in 2015.

- Aaron Goldstein, Gambling911.com

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