It seems that KYC will be a must for all CEX users in Future

[Winscosinally]

Today December 4th 2020 Bitmax exchange have announced to stop providing services to non verified users, no more withdrawal limit for not verified users, I'm guessing if every other crypto exchanges will follow this, binance for example, I use this exchange with out KYC verifications, for someone like myself who don't want to give any centralized platforms my ID i may have no choice let, what do you think?


https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/

[covfefe_]

I'm not against a KYC as centralized exchange would require them to keep their business but they (and the CIA) should change how the KYC is collected. Gathering users passport and bank statement is a disaster as they are always leaked and their identity sold on black market. They should rather go for a video verification with any sort of ID so that no other could easily fake the identity. Even fingerprint verification could be easily achieved when almost every of the people have that sensor in their phone.

[bitkanu]

I have been participating in some IEOs and i have verified my identity on the site that I wanna participate in. KYC will be mandatory for all of the users but this is not the point. Some exchange sites were still giving the daily WD limit for the new accounts. It's not too much but I thought that if that's enough to make people will be able to send up to 50k in a day.

[sujon5]

It becomes harder to buy crypto anonymously from day to day. The solution - switch to DEX. As I usually buy coins on Bitfinex via Ownr, I'm not afraid of KYC.

[Paycoinzzz]

Today December 4th 2020 Bitmax exchange have announced to stop providing services to non verified users, no more withdrawal limit for not verified users, I'm guessing if every other crypto exchanges will follow this, binance for example, I use this exchange with out KYC verifications, for someone like myself who don't want to give any centralized platforms my ID i may have no choice let, what do you think?


https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/

I don't think this will happen on all exchanges on the Crypto market. The reason this happened is because Bitmex was once caught by the SEC and they are starting to make it difficult for Bitmex because the manipulation in Bitmex was too big. So to be safe, everyone must provide KYC so that the SEC can more easily control.
So don't worry, there will never be KYC required on exchanges. Because this is something that any user really hate and they are willing to give up that exchange to use another exchange service.

[TGD]

If you really don't want to provide your KYC to any exchange then Centralized Exchange is not for you even though Binance is not requiring KYC for a certain limit, They will still ask it for you if you encounter any problem on your account, Actually KYC can be helpful in case you loss your account and you want to recover. It will be your best proof to claim it.


There's always a Decentralized exchange and P2P exchange as an alternative in case all CEX decided to mandatory ask for KYC and its really possible in the future especially if all exchange are already regulated.

You can't open open an account in bank without providing your details, It's same scenario on Centralized exchange because they are both Centralized and needs to be regulate.

[Argoo]

Today December 4th 2020 Bitmax exchange have announced to stop providing services to non verified users, no more withdrawal limit for not verified users, I'm guessing if every other crypto exchanges will follow this, binance for example, I use this exchange with out KYC verifications, for someone like myself who don't want to give any centralized platforms my ID i may have no choice let, what do you think?


https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/

I don't think this will happen on all exchanges on the Crypto market. The reason this happened is because Bitmex was once caught by the SEC and they are starting to make it difficult for Bitmex because the manipulation in Bitmex was too big. So to be safe, everyone must provide KYC so that the SEC can more easily control.
So don't worry, there will never be KYC required on exchanges. Because this is something that any user really hate and they are willing to give up that exchange to use another exchange service.

I also think so.  Even the FATF has established that only transactions worth over one thousand euros are subject to KYC verification.  The minimum amount that can be sent without identification must be established.  Small amounts of transactions will simply clutter up the possible reporting of exchanges.  Therefore, it should not take root, even if officials want to establish such requirements.  On the other hand, there will always be exchanges in offshore zones that will not be subject to such strict rules.

[FireBallex]

Today December 4th 2020 Bitmax exchange have announced to stop providing services to non verified users, no more withdrawal limit for not verified users, I'm guessing if every other crypto exchanges will follow this, binance for example, I use this exchange with out KYC verifications, for someone like myself who don't want to give any centralized platforms my ID i may have no choice let, what do you think?


https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/

It's a must for me to participate in binance IEO launchpads so I have already pass the KYC verification on binance, if it's a must to pass KYC I suggest it should be through top exchanges only, top centralized exchanges are still reliable than other exchanges so I have no worries going through KYC verifications

[acdc]

I don't like KYC
I like cryptocurrency because it's anonymous and decentralized, if I can avoid KYC I will definitely avoid it.
People should only do KYC on large exchanges, not KYC with small exchanges, most likely they'll sell your information to scammers.

[Slow death]

The problem with this KYC for the cryptocurrency market is that there are many exchanges that have anonymous owners and it doesn’t make sense to do KYC in an exchange where the owner of the exchange is someone anonymous. then there is another issue that is related to the security of people's documents, as we all know this is a market that is not regulated, so how can guarantee that exchanges will not sell documents from people who do KYC? I think governments shouldn't ask exchanges to sin their KYC customers before they make laws to make exchanges work more ethically and securely and to be continuously supervised to ensure they don't sell customer documents

[adzino]

Today December 4th 2020 Bitmax exchange have announced to stop providing services to non verified users, no more withdrawal limit for not verified users, I'm guessing if every other crypto exchanges will follow this, binance for example, I use this exchange with out KYC verifications, for someone like myself who don't want to give any centralized platforms my ID i may have no choice let, what do you think?


https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/

This is bound to happen eventually. The KYC process is inevitable and slowly every other exchange will have to ask their users for ID verification if they want to operate legally. The regulatory bodies are catching up. All government around the world wants to regulate each and every exchange and other business that are crypto based so that people don't evade taxes, launder money or do anything illegal. But lets not forget how the government likes to control everything. Even if some crypto currencies are decentralized, the government are putting regulations that help them control it!

[electronicash]

I'm not against a KYC as centralized exchange would require them to keep their business but they (and the CIA) should change how the KYC is collected. Gathering users passport and bank statement is a disaster as they are always leaked and their identity sold on black market. They should rather go for a video verification with any sort of ID so that no other could easily fake the identity. Even fingerprint verification could be easily achieved when almost every of the people have that sensor in their phone.

what's the point of that video if there isn't a valid ID. their goal is to identify a person's name and his details. if its just a video, they'd still be anon. CEX had been doing it for awhile already,  i'm not a user of bitmex but i wonder its only now.

there are even DEX that turned out to be asking for KYC. don't be surprised if the dex will also mandate users to submit documents. if they want to continue their operation, they might be doing so else the authorities will shut them.

[jossiel]

There are still some options that we can trade on decentralized exchanges that won't require us to have KYC. It's visible in the future that most of these exchanges have to follow certain rules for them to avoid sanctions.

And that rule would be requiring each of their traders to fulfill KYC. When that happens, they can see that their customers don't have an option but to follow it and I think that they've projected that it will make their business decrease in users.

[cryptopediabd]

Today December 4th 2020 Bitmax exchange have announced to stop providing services to non verified users, no more withdrawal limit for not verified users, I'm guessing if every other crypto exchanges will follow this, binance for example, I use this exchange with out KYC verifications, for someone like myself who don't want to give any centralized platforms my ID i may have no choice let, what do you think?

I know most of the members from us hate kyc requirements. You will probably see bitmex exchange dumping volume soon bcs of this.

I normally do not like any exchange kyc submission because even crypto exchange aren't government verified. So I think they will change this worst decision soon.

[MCDev]

I think KYC is not bad, it makes it possible for everyone to protect their accounts.
In case you lose your account, KYC is the best proof for you to find your account again.
However, people should not do KYC for small and less reputable transactions.

[ScamViruS]

I don't like KYC
I like cryptocurrency because it's anonymous and decentralized, if I can avoid KYC I will definitely avoid it.
People should only do KYC on large exchanges, not KYC with small exchanges, most likely they'll sell your information to scammers.

Crypto users do not like to do kyc but in some cases they are forced to do kyc with their personal information. In case of using the exchange, KYC has to be done by those who trade with large funds, for the security and withdrawal of their own funds, they have to share the information.

I haven't needed to do kyc on any exchange so far. Because the funds I trade and withdraw are much less than the daily limit of the unverified account. So I didn't need to do kyc.

[royalfestus]

Bitmex is responsible for the changes that are forced on them, In October, America accused the exchanges of allowing Hong kong company of laundering and illegal transaction, after this more investigation were done while the owner was arrested and prosecuted. Bitmex is said to be situated in Seychelles, not America yet there were able to see the atrocities. The management of the exchange had changed which prompted some changes to improve security and monitoring fund exchange of users.  

[Lhaine]

Today December 4th 2020 Bitmax exchange have announced to stop providing services to non verified users, no more withdrawal limit for not verified users, I'm guessing if every other crypto exchanges will follow this, binance for example, I use this exchange with out KYC verifications, for someone like myself who don't want to give any centralized platforms my ID i may have no choice let, what do you think?


https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/

I guess if they really plan to do this then they will send warning first to its users so other people that do not want to take kyc can widraw their balance before having a mandatory kyc it happen in bittrex before.

In case exchange will really make this as Mandatory requirements. then Dex exchange will take their move and it will help them to have more liquidity and increase of daily volume . more of the traders that afraid or do not want to give their details will surely use dex exchange . Since they don't have any other options.

[Renampun]

Today December 4th 2020 Bitmax exchange have announced to stop providing services to non verified users, no more withdrawal limit for not verified users, I'm guessing if every other crypto exchanges will follow this, binance for example, I use this exchange with out KYC verifications, for someone like myself who don't want to give any centralized platforms my ID i may have no choice let, what do you think?


https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/

I think this is still very reasonable in order to narrow the movement of criminals who use cryptocurrencies as their transactions...
I don't really like KYC but seeing if KYC is needed I wouldn't refuse to do it. but I will not do KYC on a new exchange or airdrop campaign because it will definitely be misused by them.

[optimisticcm]

Today December 4th 2020 Bitmax exchange have announced to stop providing services to non verified users, no more withdrawal limit for not verified users, I'm guessing if every other crypto exchanges will follow this, binance for example, I use this exchange with out KYC verifications, for someone like myself who don't want to give any centralized platforms my ID i may have no choice let, what do you think?


https://blog.bitmex.com/deadline-passes-for-bitmex-accelerated-user-verification-programme/

Yes, almost all top exchanges have implemented kyc requirement for all account holders, even the small accounts that are exempted from kyc initially have trading and withdrawal limits so for ultimate freedom of trading you kust be kyc verified.