Major global cryptocurrency exchange Bitstamp continues increasing compliance efforts by requesting its users to provide more data like their source of wealth.
In an email notification to users on Wednesday, Bitstamp informed its customers about the ongoing policy upgrades on the platform, with the exchange seeking additional info about its clients, one Bitstamp user told Cointelegraph.
The email reads:
“We work closely with our regulatory partners to ensure we continue to be your trusted exchange. Towards this, we need your account information to be updated, to provide you with the latest products and crypto assets.”
Bitstamp specifically requested users to update the origin of cryptocurrencies stored on the platform for regulation purposes.
The exchange provided an official list of examples of documents clarifying fiat-related sources of wealth of deposited funds, including salary and pension payslips, inheritance documents, payslips for savings, gifts, mining receipts and others. Crypto-related sources include fiat and crypto deposits and withdrawals, login info, work contracts, screenshots, hand-written agreements and others.
The exchange now also requires its customers to provide some legal info like nationality, place of birth and tax residency. Additionally, the exchange requested info on annual income and net worth, intended activities on the platform, annual deposit estimation as well as the source of assets.
Prior to sending the latest notice, Bitstamp reached out…