Binance aml/kyc in the eu

[lixer]

If Binance started to asked for another KYC details probably they are updating your info and maybe you are trading with a lot of money which requires for another KYC, and with this you can submit it or choose not to. Even if Binance is a top crypto exchanges i will also hesitant to provide any documents pertaining to myself, asked for a reason and ask if there another way either to lower your limit or withdrawals.

Same with what I experienced on some centralized crypto wallet and non crypto wallet that I use. They also ask me to reverify my information. I think this also has to do with the i.'d's that I submit before. They don't allow it now and forces me to use another type of id. I use national id for this because this was the latest i.d that our government implemented.

I do not think this has to do with the limits because I am not transacting heavily and it can take me a long time to fill the small limits that they have but once these limits are reached, it is still possible for it to replenish after some time or I can do the higher level of KYC. This requires documents which are hard to obtain.

[PrivacyG]

He already did KYC at Binance so there's not much left to give, except the proof of address thing.

Disagree.  There is still a lot to give.  I made big privacy mistakes before yet here I am.  Does not mean I have to give every thing because I gave something once.  If I think something is an overreach, I retreat.

Questions is, are there any CEX exchanges left where active traders can trade without fear of being asked for their documents? Especially if trader is dealing with bigger amounts.

There are some Centralized Exchanges which still do not ask for Know Your Customer procedures.  Instead of depositing large amounts, why not proceed differently.  Deposit small parts and withdraw after every trade.  If you want to trade $10,000 in branches of $1,000 each, it will take you 10 deposits, 10 trades and 10 withdrawals.  But if they crack down on your account, you lose only $1,000.

For day trading, keep just small amounts in the Exchange Wallet.  That is, if you do not want to be obliged to submit documents.  If increased profit is more important than the risk taken, then there is no reason to whine since it is an assumed risk.

It is unfortunate.  But these are the modern regulations and laws and they may get worse over the next years.  All we can do is either comply or adapt our strategies to their measures.

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Regards,
PrivacyG

[Rikafip]

Disagree.  There is still a lot to give.  I made big privacy mistakes before yet here I am.  Does not mean I have to give every thing because I gave something once.  If I think something is an overreach, I retreat.

Of course you don't have to give everything. As a matter of fact you don't have to give anything as long as you avoid CEX.

There are some Centralized Exchanges which still do not ask for Know Your Customer procedures.  Instead of depositing large amounts, why not proceed differently.  Deposit small parts and withdraw after every trade.  If you want to trade $10,000 in branches of $1,000 each, it will take you 10 deposits, 10 trades and 10 withdrawals.  But if they crack down on your account, you lose only $1,000.

And for how long that's gonna work, trader depositing few thousands in smaller batches and then withdrawing even more, on the daily basis? My guess is not long before you get asked for KYC.

It is unfortunate.  But these are the modern regulations and laws and they may get worse over the next years.  All we can do is either comply or adapt our strategies to their measures.

If you wanna use all the CEX pro's, be ready to accept all the cons as the way things are developing , in a year or two it won't be possible to use any CEX without KYC. Small time traders may try to work around those regulations and try to avoid KYC but anyone dealing with bigger amounts (and I know few of those) will simply accept the reality.