Bitcoin payment processor BitPay has tightened its privacy policy for shoppers that would like to process more than 3000 USD per day.
According to the updated policy, BitPay clients that want to process more than 3000 USD should provide the processor with detailed information, including:
- Name
- Email address
- Identification documents (such as a passport or a driver’s license)
- Proof of address document (such as a bank statement or a utility bill)
The processor claims it does not sell any of the client's personal data to third parties for their marketing purposes without your explicit consent.
Earlier BitPay stopped offering its services to clients from Germany to comply with all mandated federal and local regulations.
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