Why does Webull ask for a picture of my SSN when dealing with cryptocurrencies?

4 answers

• Dec 17, 2021 · 3 years ago
  Webull asks for a picture of your SSN when dealing with cryptocurrencies as part of their Know Your Customer (KYC) process. This is a regulatory requirement to prevent money laundering, fraud, and other illegal activities. By verifying your identity through your SSN, Webull ensures compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
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• Dec 17, 2021 · 3 years ago
  When it comes to cryptocurrencies, Webull takes security seriously. Asking for a picture of your SSN is one of the measures they have in place to protect users and maintain a safe trading environment. By verifying your identity, Webull aims to prevent unauthorized access to your account and ensure that only legitimate users engage in cryptocurrency transactions.
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• Dec 17, 2021 · 3 years ago
  When dealing with cryptocurrencies, it's not just Webull that requires a picture of your SSN. Many reputable cryptocurrency exchanges and platforms have similar KYC procedures in place. This is because cryptocurrencies have been associated with illicit activities in the past, and regulators have imposed stricter rules to combat money laundering and fraud. So, while it may seem inconvenient, providing your SSN is a necessary step to ensure the integrity of the cryptocurrency market.
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• Dec 17, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I can tell you that Webull's request for a picture of your SSN is a standard practice. It's important to understand that cryptocurrencies operate within a regulated framework, and KYC procedures are essential to comply with anti-money laundering laws. Rest assured that Webull takes the security and privacy of your personal information seriously and has measures in place to protect it.
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