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A comment on U.S. Regulators to Subpoena Crypto Exchange Bitfinex, Tether. Parent comment

Re:U.S. Regulators to Subpoena Crypto Exchange Bitfinex, Tether by ceejayoz on Tuesday January 30, 2018 @01:44PM (#16267780)
It lets the exchanges avoid dealing with USD, which they believe (IMO wrongly, but hey) exempts them from know-your-customer laws. A lot of Coinbase's customer service issues stem from KYC laws and the verification it requires.

Some of them are being very squirrely with their users, telling you your "USD" balance which is actually USDT.

Some may believe it's a fraud, but be happy to benefit from the apparent boost it's giving cryptocurrency values and think they're safe enough if it collapses.

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Re:U.S. Regulators to Subpoena Crypto Exchange Bitfinex, Tether by gruez on Tuesday January 30, 2018 @02:53PM (#16268392)
>they believe (IMO wrongly, but hey) exempts them from know-your-customer laws.

but you need to be verified on bitfinex to withdraw both tether and (real) USD.

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Re:U.S. Regulators to Subpoena Crypto Exchange Bitfinex, Tether by FireBeyond on Tuesday January 30, 2018 @03:44PM (#16268849)
KYC comes into effect on account opening, not withdrawal.
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