Logged into my account today and usually i don't pay much attention to the news update section on the bottom right of the page, but today I did. Much to my dismay this news update is what I saw. Visiting the link I learned that Poloniex accounts will now require users to verify their identity to continue to use the platform beginning next year. Here's the full post from the Poloniex team.
I, like a majority of casual traders on Poloniex are completely against this move. They clearly have been receiving pressure from the government and/or I.R.S. to implement I.D. verification so they can better track your gains/losses and overall trades so they can catch those who evade paying taxes. This is just one more example as to how corrupt and money hungry the government is and how they will do anything to hold back the people from financial success. When I checked what information was required to verify my account this is what they ask for..
That's where I stopped. The fact that they want social security numbers is very troublesome. One of the main things crypto traders/investors advise against is holding your cryptocurrency on an exchange for fear of being hacked or they exit scam. There are many examples of exchanges being hacked and submitting your social security number to one of these exchanges could have far greater repercussions than just losing your crypto.
Just thought I'd let people know that haven't seen this yet about the upcoming change and give caution to those who give out important personal information like this on an exchange.
Have a good day, and stay safe out there.
All images were screenshots from poloniex.com