9 votes
Accepted

Privacy friendly payment processor

I'm pretty sure that all crypto payment processors that deal with fiat <-> cryptocurrency exchanges are doing AML/KYC routines including chain analysis. That's not only true for BitPay and Coinbase ...
  • 381
5 votes
Accepted

Why do most trading platforms require ID Verification?

In the US, these are called "Know your Customer", and "Anti Money Laundering" (KYC/AML) laws and is enforced by FINCEN (financial crimes enforcement network) in the US for any businesses that ...
  • 2,062
3 votes

Technological contractor for an ICO legal advise

While I think the project as some merit, I am concerned about any legal liability I could hold. That's a good thing to think about. The company that wants to hire me has declared to me that the ...
  • 28.9k
2 votes

Why do most trading platforms require ID Verification?

https://www.irs.gov/businesses/international-businesses/list-of-approved-kyc-rules These are the KYC rules for each country. Do not let places take advantage of you. I had one trader ask for a phone ...
  • 21
2 votes
Accepted

Selling btc but avoiding bank payment reversals

however payment reversals are a problem with bank wire transfers. "Different wire transfer systems and operators provide a variety of options relative to the immediacy and finality of settlement and ...
1 vote

Doubts about kyc information request of crypto exchange site

Yes, this is a pretty common onboarding experience with exchanges. You used to only have to upload a photo ID of yourself, however a lot of these databases of users' photo IDs were leaked so now new ...
  • 41
1 vote

How can I earn an income from my bitcoins without revealing my identity or relinquishing control of my bitcoins?

Bitcoins are a non-productive asset. Lending services earn revenue, because they lend out the coins they borrowed from you to someone else. They connect lenders and borrowers, take most of the risk ...
  • 65.4k
1 vote

Can a wallet/exchange provider ask for transaction details

Am I obligated to share transaction details with my wallet/exchange provider for any payment I made to an individual, like a subscription to a website? A proper noncustodial wallet will impose no ...
  • 17.5k
1 vote

Selling btc but avoiding bank payment reversals

The usual way to do this is to use an escrow service that holds the crypto until the bank transfer or payment is deemed complete and irreversible - if the buying party attempts to reverse the payment, ...
  • 16.6k
1 vote
Accepted

Online Store in Cheyenne, Wyoming Accepting Bitcoin for Payment

For absolute clarity, you should consult the appropriate lawyer / tax professional in your jurisdiction. However, in general, accepting bitcoin for payment should be no different than accepting any ...
  • 17.5k
1 vote

Personal information and bitcoin purchasing

I am in the process of buying bitcoins and am being required to put in a lot of personal details. The Bitcoin network itself requires no identifying information from users. In fact, efforts have been ...
  • 17.5k
1 vote

Human identifier associated with a wallet

The way you track payments is to hand out unique addresses to each customer. This way you know who to attribute payments to. However the customer could always ask someone else to pay to your address. ...
  • 2,570
1 vote

Why do most trading platforms require ID Verification?

KYC and AML are required if the entity is moving money from A to B. Those entities are referred to as MSB (Money Services Business). However crypto exchanges are are not truly MSB's but they still do ...
  • 19
1 vote

Which KYC solution providers are used by Bitcoin companies?

Jumio is used by a few companies, including SnapSwap, CoinMKT, etc. Their notable products include NetVerify and BISON. miiCard is used by Bylls and Bittylicious. Sphonic is used by Bitnet.
  • 42.8k
1 vote

Law / country specifics to start Ripple Gateway

According to Ripple the url https://ripple.com/wiki/Gateway_Integration_Manual for the Gateway Integration Manual is "DEPRECATED". Ripple says "This page has been replaced with the new Gateway Guide ...

Only top scored, non community-wiki answers of a minimum length are eligible