The Moonexbit has changed the verification method and refuses completely KYC verification for it’s customers. This makes the exchange the most anonymous and safest to use.
Previously, almost all cryptocurrency exchanges were anonymous, but over time, government agencies became concerned about the problem of fraud and money laundering through this loophole. In 2018, the European Parliament announced the adoption of a number of measures to combat money laundering in the cryptosphere.
To continue working, European exchanges have had to introduce forced registration for those who want to use fiat money or withdraw large amounts daily. The need to introduce such measures arose due to the fact that there are no similar mechanisms for combating fraudsters in the blockchain itself.
- KYC (Know Your Customer) is a control measure for customer identification. Now, if someone conducts illegal activities, they will be tracked instantly, because. according to the requirements of regulators, all information collected from users is transferred to public services upon request.
- AML (Anti Money Laundering) is a set of measures to combat the legalization of capital obtained by illegal means.
The need to introduce such measures arose due to the fact that there are no similar mechanisms for combating fraudsters in the blockchain itself.
The new verification concerns only the external addresses of users. Now when making a deposit to your account. The user’s external address is verified and stored in the database as a secure address. In the future, users can withdraw their assets only to such addresses. This allows you to make the use more anonymous and at the same time secure your account from third-party interference.
