Cryptocurrency exchange CEX.IO has tightened its requirements towards its users, requiring more additional information to verify identities, according to the official announcement.
CEX.IO is a London-based cryptocurrency exchange which was founded in 2013. It has approximately 2.5 million users across the globe.
It says the decision to tighten the requirements was made to improve user experience with "high-level and reliable service." It’s worth noting that the directive becomes mandatory all over the EU jurisdiction in January 2020.
One way or the other, the United Kingdom is quite loyal to the crypto industry. For instance, the UK’s MP, Eddie Hughes, truly believes there’s a way of using bitcoin as a payment method for local taxation system.
Hughes convinced the implementation of bitcoin as a payment method for business registration may be the brightest example of a real crypto usage.
Moreover, earlier, the largest UK’s e-commerce Flubit.com announced the acceptance of over 40 cryptocurrencies as a payment method. Flubit.com CEO, Bertie Stephens, said that "shopping ecosystem creates demand for a [crypto] coin, increases the volume of trading, and consequently helps grow a coin’s value and future relevance." Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.