Cryptocurrency exchange Binance is blocking any attempts to withdraw bitcoins (EXANTE: Bitcoin) out to the privacy-focused bitcoin-wallet Wasabi, a user on Twitter reports citing the exchange's statement.
According to a user Catxolotl, the exchange has blocked his attempts to withdraw in order to enhance security and maintenance.
Bitcoiners be warned: this is what happens if @BinanceSGD finds you withdrawing to @wasabiwallet
— Catxolotl (@bittlecat) December 19, 2019
Not surprised that my transactions are tracked, it's KYC after all
But I'm very concerned that Binance knew I was sending to wasabi, when all I input was a bc1 address, nothing more pic.twitter.com/T6ePjahESY
To continue the withdrawal process, a user should submit information regarding the purpose of withdrawal to the wallet, supporting documents, current occupation, and the annual income range.
Earlier iHodl reported that a decentralized cryptocurrency exchange CryptoBridge, developed on the Bitshares platform, implemented a mandatory know your customer (KYC) process.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.