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Title: Bitmain KYC for Business - what to put US business? Post by: betajuice on April 09, 2019, 11:54:02 PM It asks for "Enterprise Business License" Image,
and "Business License ID" what do you put for these? Certificate of Filing and tax ID ? Title: Re: Bitmain KYC for Business - what to put US business? Post by: Potato Chips on April 10, 2019, 09:48:47 AM Didn't know bitmain required this :o so ppl has to proof their source of funds now?
Anyhow, did you apply for a business license? If so, you should have a certificate that says business license and within it, you should find the license id as well. Title: Re: Bitmain KYC for Business - what to put US business? Post by: crairezx20 on April 10, 2019, 01:30:31 PM Didn't know bitmain required this :o so ppl has to proof their source of funds now? They required this since last year start from August 2018 so this is not new to me and the bad thing is that you cant buy a single miner because they will ask for KYC verification unlike before. Code: Dear customer, Title: Re: Bitmain KYC for Business - what to put US business? Post by: Potato Chips on April 10, 2019, 02:05:39 PM Didn't know bitmain required this :o so ppl has to proof their source of funds now? They required this since last year start from August 2018 so this is not new to me and the bad thing is that you cant buy a single miner because they will ask for KYC verification unlike before. The only thing I could think of on why a business license would be included in their kyc is, they're requiring op to proof the source of funds which I haven't heard, even the announcement you post does not mention it. Title: Re: Bitmain KYC for Business - what to put US business? Post by: betajuice on April 10, 2019, 09:07:06 PM Didn't know bitmain required this :o so ppl has to proof their source of funds now? They required this since last year start from August 2018 so this is not new to me and the bad thing is that you cant buy a single miner because they will ask for KYC verification unlike before. The only thing I could think of on why a business license would be included in their kyc is, they're requiring op to proof the source of funds which I haven't heard, even the announcement you post does not mention it. I don't think it's about source of funds, that's usually what banks do. They are doing it for identification requirements for their customers. Title: Re: Bitmain KYC for Business - what to put US business? Post by: Beerwizzard on April 14, 2019, 09:33:25 AM The KYC by itself is not really a big deal. You are buying a pretty expensive mining equipment and going to receive it personaly so you would definetely have to leave information about yourself to get the parcel in the post office. Also in case of any legal complaints it would be easier to prove that you've made anprder and payed some money for that.
It seems like they require business license if you are ordering equipment as an enterprise. Title: Re: Bitmain KYC for Business - what to put US business? Post by: 1Referee on April 14, 2019, 11:32:52 AM I don't think it's about source of funds, that's usually what banks do. They are doing it for identification requirements for their customers. Mining is a process of value creation, which is something governments want to subject to KYC and all that nonsense too. This is also why Ebay and PayPal are quite harsh on people selling mining equipment. It's super silly if you think about it, but this is how governments think they can somewhat control this ecosystem. Considering that you can only mine Bitcoin with specialized hardware, it's easy for governments to enforce these measures, while it's way harder to do it with businesses selling GPU's, because you can't subject every buyer of one single unit to go through this nonsense. It however wouldn't surprise me if eventually we'll see the same happen to bulk GPU purchases. We haven't seen the worst side of regulations yet. |