Poloniex eliminates the need for KYC

Cryptocurrency platform Poloniex now allows users to withdraw funds unnecessarilySuch users, however, will have some restrictions on withdrawal.

Recently, many exchanges are tightening theirrules in connection with the publication of FATF recommendations. Most platforms track the activity of their users and require identification when setting up an account. Poloniex, in turn, takes a step in the opposite direction and presents a kind of account that does not require verification.

According to the official blog entry, users“First level” will be able to have a record on the exchanger without having to go through a KYC check. Such users only need to provide and confirm their email address. It is worth noting that such accounts have the same trading functions as authenticated accounts.

However, "first-tier" users have a withdrawal limit of $10,000 per day.In order to withdraw larger amounts, the client must complete the KYC procedure and apply for an account upgrade.

Recall that recently Tron founder Justin Sun admitted that he is one of the investors who acquired the Poloniex exchange from Circle.

Based on materialsbitcoinwarrior.net