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Which crypto does not require SSN?
Bitcoin exists in a deregulated marketplace, so there is no centralized issuing authority. Bitcoin addresses do not require Social Security Numbers (SSNs) or other personal information like standard bank accounts in the U.S. That initially raised concerns about the use of bitcoin for illegal activity.
Do you need a SSN to use Coinbase?
Coinbase does require that you provide your Social Security number to them when opening an account on their platform. They use your SS# for several reasons such as checking your background information, tax reporting purposes as well as to comply with anti- money laundering laws of the United States.
Can you use Binance without SSN?
A valid Social Security Number (SSN) or Taxpayer Identification Number (TIN) is required.
Do all crypto exchanges require ID?
Most crypto exchanges and trading platforms require proof of ID for credit card purchases. Even if you find a platform that allows you to buy crypto without ID, you’ll still be paying for your transaction with a credit card that’s linked to your identity.
Why do crypto exchanges need SSN?
As the premier US-based blockchain technology and cryptocurrency exchange, Bittrex is required by law to collect your SSN/SIN to comply with the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations. Beginning January 14, 2020 this information was required when logging into Bittrex.com.
Why do crypto exchanges need ID?
The reason Coinbase and similar companies require ID verification is to comply with AML/KYC laws (Anti-Money Laundering/Know Your Customer). These laws are in place to prevent money laundering and terrorist financing, which IMO most people would support.
Why do crypto exchanges need KYC?
Understanding Know Your Customer (KYC) for crypto The purpose of KYC regulations is to reduce identity theft and fraud by having businesses collect and verify key data about customers to truly understand who they are.