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Popular bitcoin exchange BTC China (which by surprise happens to be the world’s largest BTC exchange) is now requiring users to prove their identity when creating or utilizing a trading account, according to CoinDesk.
The message provided to users upon logging in:
“In response to a recent policy shift, BTC China now requires users to submit identification or a passport number. Existing users will need to provide this information upon login. We apologise for any inconvenience.”
Users outside of China are seemingly not affected by the policy change. Some who submitted passport numbers are reportedly able to resume trading right away sans additional verification by BTC China.
Identity submissions are common amongst bitcoin exchanges. They are, by design, put in place to prevent fraud and money laundering.
