KYC tier 2 for holders! Why?


#1

In the latest tweet of Electroneum mentioned that KYC level 2 is mandatory for all users who want to transfer or hold more than 150€ equivalents to ETN in their wallets!!
I have a question, why it’s mandatory for holders!!
You haven’t mentioned it in recent month, only said for withdrawal will be mandatory!!


#2

I’m sure they are learning as they go, so lawyers probably told them farther instructions. Don’t be surprised if more instructions come in the future.


#3

IS that for real? Even for holding? I’m pretty sure I have more than 150€ worth of ETN, and the app still doesn’t accept documents from Bosnia and Herzegovina… That means I have a month left for a solution to appear…


#4

Yes it’s real my mate!
Follow their tweeter and find it!


#5

yup they should clarify that statement before…if im not mistaken tier 2 only for someone who want to transfer…maybe receive as well?


#6

Completely agree!
It should change!


#7

I don’t think Richard is considering the unbaked socity


#8

In typical ETN fashion, they’re issuing blanket statements with unclear instructions and ever changing deadlines with rules that appear to be made up on the fly as we go. But compliance is mandatory. Come on guys. WTF?


#9

These are the levels, nothing has changed!


#10

nothing has changed but have you seen the latest tweet?
It’s mentioned level 2 is mandatory even for holders!
Why?


#11

It says exactly the same thing you can see in the above screenshot I made. Which is at least two weeks old.


#12

Dear @eFiJy
Your screenshot is only regarding send and transfer not regarding to holding!!
Why we should pass level2 for holding ETN?


#13

They are confused, I’m keeping all my electroneum in my account and not yet employed so what should I do then


#14

You didn’t understand that nobody cares if you’re holding! You don’t even need level 1 for holding. Noone would take your coins. Even though you won’t be able to use the account for transfers until you decide to verify yourself.

If they specified ‘‘Please don’t complete Tier 2 unless you have to!’’, I imagine that for holding, level 2 is not required.


#15

They only need level 1 so they will be fine.


#16

They have changed it … “hold or transfer”


#17

But this last statement, ‘‘Please don’t complete Tier 2 unless you have to!’’, it contradicts the ‘‘hold or transfer’’. Maybe they didn’t phrase this correctly.
Because of course you HAVE TO!!! if you are at least holding…whatever.


#18

There is not much point in holding if you can never transfer it (because for whatever reason you don’t have the documents). So adding the word “hold” does not make much practical difference… I’ve already removed 90% of my ETN from the wallet as don’t want issues in future.


#19

So you’re keeping it in exchanges? That doesn’t look too good…


#20

Friend I’m keeping mine in the wallet when it’s in exchange I may sell it but I have submitted my documents waiting for confirmation how long would that take