Author Topic: Why there are 3 different verification test every time  (Read 796 times)

Offline opprtus

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Why there are 3 different verification test every time
« on: February 26, 2016, 01:09:14 AM »
its just mad!! why 1 is not enough?

Offline shyliar

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Re: Why there are 3 different verification test every time
« Reply #1 on: February 26, 2016, 11:08:38 AM »
Assuming you mean to get fiat out of various exchanges. It has to do with know your customer rules relating to money laundering as well as capital gain taxes. Basically local governments and law enforcement agencies want to be able to identify you.

In my local exchange I was allowed to take out 3K a month without providing identification. If I wanted to take out 25K per day I had to provide photo identification. Needless to say once being verified you want to make sure you're paying appropriate taxes.
« Last Edit: February 26, 2016, 11:13:40 AM by shyliar »

Offline opprtus

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Re: Why there are 3 different verification test every time
« Reply #2 on: February 29, 2016, 01:16:03 AM »
Assuming you mean to get fiat out of various exchanges. It has to do with know your customer rules relating to money laundering as well as capital gain taxes. Basically local governments and law enforcement agencies want to be able to identify you.

In my local exchange I was allowed to take out 3K a month without providing identification. If I wanted to take out 25K per day I had to provide photo identification. Needless to say once being verified you want to make sure you're paying appropriate taxes.

i talk abot litecontalk.com

Offline Someguy123

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Re: Why there are 3 different verification test every time
« Reply #3 on: March 05, 2016, 12:47:46 AM »
Assuming you mean to get fiat out of various exchanges. It has to do with know your customer rules relating to money laundering as well as capital gain taxes. Basically local governments and law enforcement agencies want to be able to identify you.

In my local exchange I was allowed to take out 3K a month without providing identification. If I wanted to take out 25K per day I had to provide photo identification. Needless to say once being verified you want to make sure you're paying appropriate taxes.

i talk abot litecontalk.com

It's because of spam. Once you reach a certain amount of posts, you won't need to enter any verification any more.

Offline Rockyroad

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Re: Why there are 3 different verification test every time
« Reply #4 on: March 05, 2016, 05:58:48 PM »
I like the rule, because lately there have been a lot of spammers. 

Actually I think you are a spammer, because it's an uncanny coincidence that we got another similar post:

https://litecointalk.org/index.php?topic=29049.0