Why does Coinbase require SSN for account registration?

3 answers

• Nov 23, 2021 · 3 years ago
  Coinbase requires users to provide their SSN for account registration as part of its Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. This is to ensure compliance with regulatory requirements and to prevent fraudulent activities. By verifying users' identities through their SSN, Coinbase aims to create a secure and trusted platform for cryptocurrency transactions.
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• Nov 23, 2021 · 3 years ago
  The reason Coinbase asks for your SSN is to comply with government regulations. Cryptocurrency exchanges are subject to strict regulations to prevent money laundering, terrorist financing, and other illegal activities. By collecting users' SSN, Coinbase can verify their identities and ensure that they are not engaging in any illicit activities on the platform.
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• Nov 23, 2021 · 3 years ago
  As a leading cryptocurrency exchange, Coinbase prioritizes security and regulatory compliance. By requiring users to provide their SSN, Coinbase can perform thorough identity verification and adhere to KYC and AML regulations. This helps to protect users' funds and maintain the integrity of the platform. It's a necessary step to ensure a safe and trusted environment for cryptocurrency trading.
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