Why is KYC on crypto exchanges not equivalent to KYC on electroneum.com? Why do so many users have locked account on electroneum.com but at the same time they can keep large amounts of etn on exchanges? Why etn can be traded on trade ogre where KYC is not mandatory? Next, electroneum has a lot of loyal users and followers. Why weren’t they notified of the policy changes and potential account lockout? Electroneum exists because of the support and financial input of investors, followers, users. This account lockout is a betrayal of trust. What will happen to the funds if the user is unable to do KYC Verification 3? I have had tier 3 done for couple of years so I did all I had to do. Ther was no problem for me to open, deposit or withdraw funds from account until nov. 23. 2020. Now they want me to show them my purchasing etn history which is impossible since I bought it on Cryptopia.
The KYC measures undertaken are stipulated by the legal jurisdiction under which Electroneum Ltd falls under here in the UK. They have no say on what the rules for KYC/AML are…its law.
I cant comment on what exchanges do, especially those run from other countries with different regulations.