Coinbase, Exchanges

Why Is Coinbase Verifying My Identity?

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.

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