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.
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