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Insane KYC @ Binance.com in Germany since this week

Binance

Cryptocoins Exchanges / Binance 257 Views

So this week I got an email from binance saying that they require more KYC information. I am like, okay whatever. So I go to the transfer money window and now you require to answer a lot of questions if you want to transmit money to your binance account.

They want to know your income, your employer and even your overall wealth. So I did not care much because you can write whatever. But in the end they require you to upload a real income statement or something similar.

I am not willing to do that.
I was willing to transfer information about where I live, my ID and other things but I see no point in transferring information about my income.

I also do not understand why this matters in any way.

Let us take for example another account that I have from a bank for day trading. For day trading I do not have to proove how much money I earn. Why is this necessary for binance? How is it possible that the KYC for a day trading account that I have at a bank (and I am not at all a day trader and I have no professional day trading experience) is less than for a binance account? I use binance just to stack Satoshis and HODLing. The whole situation is just crazy.

So my question is, how can this be changed? Are there politicians that should be contacted? Where is this KYC requirement coming from? Is binance doing this to show how transparent binance is? But if that is the case, why does binance have to be more transparent than any day trading platform from banks?

Binance is my preferred platform to stack Satoshis at the moment and it would be great if there is a solution to this. My monthly income is not required to be known, since I cannot take out more from binance than I put in anyway. But until this is solved...

submitted by /u/european_hodler
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