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2 November
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In the coming months, users of the International Distributed Ethereum Exchange (IDEX) will have to go through compulsory verification of their accounts in order to comply with AML requirements and sanctions restrictions. This was stated by Alex Wearn, the creator of the Aurora DAO platform.

According to him, IDEX will apply a multi-stage verification system: to work with small amounts of funds, traders need only to provide basic information, and for operations with large amounts will have to go through a more complicated procedure.

As a reason for establishing mandatory KYC procedures, Aurora DAO referred to a statement by a member of the Commodity Futures Trading Commission (CFTC), Brian Quintens, that developers can be held responsible for illegal operations performed by third parties using their smart contracts.

It also became known that due to the tightening of the regulation of the field of cryptocurrency, IDEX will have to start blocking users from Syria, Crimea, Washington, and Cuba.

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