When you create a Coinbase account, you must provide your full name, date of birth, address, and phone number. You will also be asked to verify your identity by providing a government-issued ID.
The reason for this is that Coinbase is required by law to collect this information from its users. Coinbase is a money transmitter, and under US law, all money transmitters must comply with anti-money laundering (AML) regulations.
These regulations require Coinbase to verify the identities of its users in order to help prevent financial crimes such as money laundering and terrorist financing.
NOTE: WARNING: Coinbase verification of identity is a necessary security measure to protect your account and funds. It is important that you provide accurate information and documents when verifying your identity. Any false or incomplete information may result in the permanent suspension of your account or other legal consequences.
In order to comply with AML regulations, Coinbase has implemented a know-your-customer (KYC) program. Under this program, Coinbase requires its users to provide their full name, date of birth, address, and phone number when they create an account.
Coinbase also requires its users to verify their identity by providing a government-issued ID.
The KYC program is designed to help Coinbase comply with AML regulations and prevent financial crimes. By collecting this information from its users, Coinbase can help ensure that its users are who they say they are and that their transactions are legitimate.
6 Related Question Answers Found
If you’re a Coinbase user, you may have noticed that your account is not verified. This can be frustrating, especially if you’re trying to use Coinbase to buy or sell cryptocurrencies. There are a few reasons why your account may not be verified, and we’ll go over them below.
If you’re a Coinbase user, you may have noticed that the platform is asking you to verify your identity again. This is because Coinbase is required by law to collect certain information from its users in order to comply with anti-money laundering (AML) and countering-the-financing-of-terrorism (CFT) regulations. In order to verify your identity, Coinbase will ask you to provide some personal information, such as your name, address, date of birth, and phone number.
If you’re new to the cryptocurrency world, you may be wondering why it takes so long to verify your Coinbase account. The process can seem slow and tedious, but there are actually a few good reasons for this. For one, Coinbase is one of the most popular exchanges out there.
If you’re having trouble verifying your ID on Coinbase, there are a few things you can do to try and fix the problem. First, make sure that you’re using a supported browser. Coinbase currently supports Chrome, Firefox, Safari, and Edge.
As one of the most popular cryptocurrency exchanges, Coinbase has been inundated with new users signing up to buy Bitcoin and other digital assets. However, many of these new users are finding that their account verification is taking an unusually long time. In this article, we’ll explore some of the possible reasons why this is happening.
Coinbase is a digital asset exchange company headquartered in San Francisco, California. They broker exchanges of Bitcoin, Ethereum, Litecoin and other digital assets with fiat currencies in 32 countries, and bitcoin transactions and storage in 190 countries worldwide. One thing that Coinbase is known for is their ease of use when buying cryptocurrencies.
