Mandatory verification has come into effect on CEX.IO

Launched in 2013 as a self-regulated cryptocurrency exchange, CEX.IO strictly follows KYC guidelines and has developed compliance procedures in keeping with the highest security standards.

London, United Kingdom – December 12, 2018 /PressCable/ —

Launched in 2013 as a self-regulated cryptocurrency exchange, CEX.IO strictly follows KYC guidelines and has developed compliance procedures in keeping with the highest security standards.

Identification is extremely important so we can provide users with high-level and reliable service. Moreover, according to the Fifth Anti-Money Laundering Directive, EU Member States are obliged to transpose the modified regulations into national law by January 20, 2020. This directive defines virtual currency exchange platforms and custodian wallet providers as “obliged entities” subject to AML regulations.

“We have always understood the importance of dealing with virtual currency within a legal framework, so mandatory verification for customers who transact in fiat currency was introduced long before the Fifth Anti-Money Laundering Directive was adopted in the EU.” — Serhii Mokhniev, CEX.IO Regulatory Affairs Counsel.

Already verified users don’t need to pass verification again.

Follow the updates on our blog for the latest information on this matter.

About CEX.IO

A UK-based multi-functional cryptocurrency exchange established in 2013, CEX.IO provides a rich variety of trading tools for Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Zcash, Dash, Ripple, Stellar, and Litecoin. These cryptocurrencies can be traded for USD, EUR, GBP, and RUB.

CEX.IO provides a variety of payment options including credit and debit cards as well as reliable and timely wire transfers. The company strives to offer the best cryptocurrency trading experience and the most convenient service to its customers. Since April 2016, CEX.IO clients have processed over 1 billion US dollars via Visa and Mastercard cards.

The CEX.IO exchange repeatedly passes PCI DSS certificate renewal to validate compliance, allowing it to process, transmit, and store credit card data.

CEX.IO is among the founders of CryptoUK, an association started by major cryptocurrency players to represent the interests of exchanges, trading platforms, intermediaries, and asset managers, among other stakeholders. CryptoUK is aimed at building cooperation with authorities in the UK, such as the FCA, to develop an appropriate operating framework for crypto businesses.

With more than 2.5 million users across the globe, CEX.IO provides stable services backed by cold cryptocurrency storage, financial viability, high security, and KYC and AML best practices. Since 2015, CEX.IO has held MSB (Money Services Business) status with FinCEN, a bureau of the US Department of the Treasury. As a registered MSB, CEX.IO has proved that the company complies with Bank Secrecy Act requirements applicable to financial institutions as well as to each of the specific requirements applicable to MSBs.

Media Contact

Peter Ivanov, Communications Officer

peter.i@cex.io

London office contact details: 0203 909 6911, 0203 909 6910

Contact Info:
Name: Peter Ivanov
Email: Send Email
Organization: CEX.IO
Address: 24th Floor One Canada Square, Canary Wharf London E14 5AB, London, London, United Kingdom
Website: http://cex.io

Source: PressCable

Release ID: 458007