What is KYC?
Know your customer (KYC) is the process of a business verifying the identity of its clients to protect itself from being held responsible for any illegal intentions or money laundering activities. There are well-defined regulations which are in place to prevent these activities.
Who is required to provide user verification (KYC)?
Please note that KYC is only required for US citizens. If you are being prompted for verification in error, please get in touch via our official Discord channel: #KYC-support.
We are only requiring accounts held by United States citizens to submit to this process. This User Verification will ensure compliance with existing US regulations.
Who is required to accept the Terms of Service?
-We are requiring all users to accept the Terms of Service to ensure we are compliant with current and potential future regulations. They are designed to protect both our users and CryptoBridge itself from regulatory or legal issues moving forward.
What happens if I decline the User Verification or do not agree to the Terms of Service?
A 14-day grace period was announced in late February, 2019 and ended March 07, 2019. This allowed users to withdraw their funds without any issue or questions asked. This preliminary grace period is now over.
I am not a US citizen. Why was I asked for verification (KYC)?
You have either selected the option to identify yourself as a US citizen by accident or are accessing CryptoBridge from an IP address located in the US. Please contact support to have your username reset.
Why am I being asked to provide user verification even though I am not a US citizen?
Your IP is connecting to the gateway from a US server, or you have incorrectly chosen the check box for “I am a US citizen”. Connecting from an IP in your local jurisdiction is required by our Terms of Service.
If you have made the incorrect selection, please send a message to one of the BridgeKeepers and the selection may be reset.
How long will it take for my User Verification to be completed?
Your submission will be reviewed and should be confirmed within 24 hours. You must authorize CryptoBridge from the Fractal website at this point and your account should resume all normal functionality.
The grace period is over, but I don’t want to submit information. What should I do?
Users are now unable to trade or deposit or withdraw until they agree to the Terms of Service or if a US citizen to complete User Verification. Login to your account will always be possible, regardless.
Which documents are required for verification?
A passport or state driver’s license and a social security number will be required for US applicants. Driver Licenses act as a Proof of Identity, but do not need to match with residential address where the individual currently resides.