KYC Levels issue


#1

What I’ve done:

Installed the Yoti app and done the process and given all the information requested along with my passport AND drivers license. I’ve linked my Yoti profie to my ETN account successfully.

Issue:

I have to provide work title, employer and tax ID for that employer to go to level 2?

I want to go to level 3, but if I don’t have/need a job how do I get to step 2?


#3

I just entered N/A for the job part and uploaded a Utility bill. I’m assuming that should work seeing it is the truth:)


#4

I’ve just gone through the Yoti system (which was nice and straight forward, great system) I’ve linked it up and now I need to provide proof of address yet again, as well as job and tax info.

I’m happy to do this as an ETN user and follower, however it does seem a little misleading when we were basically told KYC was done through Yoti and not about all this extra information and scanning of utility bills etc - it kind of takes away from the ease and beauty of the Yoti solution. I may as well have scanned and uplaoded my driver licence direct to ETN and not bother with Yoti at all.

I can see a lot of people being put off by this…


#5

I was surprised as well. This may, however, be a way for ETN to provide KYC in regions where Yoti is not yet available.


#6

I imagine there will be some pushback to these other requirements. I get why they want to do it, but this was a bit of p.i.t.a. to be honest.


#7

I can not verify my adress on Yoti, my adress is not on the id, how am i supposed to verify it?


#8

Level 3 information all done and submitted, overall time took about 25 min. Not much different than opening a bank account which in one way my ETN wallet is just like a savings account! :slight_smile:


#9

I was also confused in the beginning. I think the extra information are for the AML regulation.


#10

nice, I’m still waiting for it to verify level 2


#11

it is not possible to verify adress through yoti because most of Id’s dosen’t content an Adress


#12

Provided the level 1 requirements do not change in future, I think i will not need level 2 or level 3 which is just as well because I can’t complete them!


#13

I am not thrilled about this I have to admit.

It will not stop me being an investor in ETN or a HODLer.

But it will largely stop me being a USER of ETN. :face_with_raised_eyebrow:


#14

Asking for employer information and ssn seems completely uncalled for. Importing yoti profile for those who have completed it should be sufficient for kyc. Hopefully we get an explanation soon


#15

Is it asking for our SSN on level 2? The way I interpreted it was they wanted the employer tax id since the whole section was about employment. That’s what I put. I guess we’ll see what happens…


#16

Did level 2 get approved with an employer tax ID? If that is what they want it makes even less sense.


#17

Others have said they put in their ssn and it got approved


#18

Agree. Looks like paper wallet for me


#19

Yeah, that is why I was confused. When you ask for a “Tax ID” in a section where they are asking for employment information, then I personally think employer tax ID. If they want SSN, then it would make more sense to ask for your SSN. So now I guess I wait for the rejection before I an redo it…

/sigh

This is a bit of a pain and confusing…I can only imagine how this process is going for the rest of the world.


#20

never heard or seen a Tax ID in my life to be honest and why do they have to know that anyway? Full name and verified adress not enough?


#21

It’s an American based ID used by the IRS to make sure the gov’t get’s their cut of your hard earned money. But the term “Tax ID” is more commonly used in describing a company’s ID, not an individual’s ID. It would appear ETN is looking for a person’s Social Security Number which is used as an individual’s personal tax ID. I’m not sure why ETN would really need that unless it is being forced by the lawyers so they can report potential earnings/losses to the IRS…but that would entail that they label ETN as a currency, which in America it is not so there are technically no profits/losses to report. So I do have to wonder why it is needed until such time that cryptos are labeled and regulated appropriately as currencies.