CEX.IO News

New Verification Rules on CEX.IO

, February 16, 2018

Every day at CEX.IO we are working on making cryptocurrencies more accessible to people all over the World. In just a few years we have grown from the startup company to a business with more than 2,000,000 users. One of the factors in this success is our attention to issues of security and regulations.

Our Security and Concerns

We are working with our users’ money, and we feel the responsibility on our shoulders. An advanced encryption system helps us to ensure the safety of stored data. As a proof of users’ data security, we have PCI DSS level 2.

The Focus on Legal Compliance

We believe that transparency is a basis for our growth. Our primary principle is compliance with the regulations in the countries where we are active. For example, we have received the authorization within FinCEN as Money Services Business in the USA.

Now, we face the need for obligatory verification of all our users. So, we highly encourage all our customers who still have Basic accounts to pass verification as required by our KYC/AML policies. Even for those clients who are only dealing with cryptocurrencies, it will be necessary to continue trading on CEX.IO.

What About Previous Verification?

Earlier at CEX.IO, verification was mandatory only for users who wanted to deposit/withdraw fiat money. From March 2018 it will become an obligatory condition to use the services provided by CEX.IO, and the users who are still not verified at that moment will not have access to specific activities on the platform.

The customers who already passed the procedure do not need to go through it again. Only non-verified users have to provide their documents and necessary information. You can find all required documents on our Help Centre.

Note that the received information will be protected and stored according to CEX.IO’s Privacy Policy. Additionally, CEX.IO is registered in UK Data Protection Register within ICO as a data controller, which allows us to process personal information.

Why Is It Compulsory?

We understand the value of anonymity the cryptocurrency community stands for. Still, to stay compliant with the 4th AML Directive and ensure we are acting legally, we are obliged to make verification mandatory for all users. This is the only way to ensure a safe and healthy trading environment on our platform. 

Currently, we are working on a procedure to make it as prompt and easy as possible.

Please pass the verification procedure before March 13 to further enjoy your trading on CEX.IO.

Related

CEX.IO News

Complaints Management on CEX.IO

As one of the leading cryptocurrency exchanges, CEX.IO is determined to deliver top-notch service to its users. To achieve this aim, we’re launching a new complaints management initiative. Our managers will handle your complaints and do their best to ensure that the same situation doesn’t happen again. Learning from

Aug 10, 2018 | 4 min read
CEX.IO News

Hot Season of Crypto Staking

“Crypto winter” is a term that many use to describe the current, downturned state of the market. It’s just a coincidence that weather presently aligns with these conditions in many global regions. It’s chilly out there in more ways than one. While things could indeed be better (we remember

Jan 30, 2023 | 6 min read
CEX.IO News

CEX.IO Bitcoin Exchange Integrates with TradingView

We are glad to announce our integration with TradingView, a browser-based financial charting platform for traders. Browser-based charts and tools on TradingView allow traders to do research and access data on any operating system, wherever they are and without extra installations. TradingView creates favourable conditions for discovering investment ideas

Oct 23, 2015 | 2 min read