Ethereum

I believe that is what Biden and his party have voiced for a couple years now. In short, they want it gone or taxed beyond imagination. As in tax on unrealized gains and such.

Give Juno a try much much better and it’s a bank

Recently zkP2P was featured in the Daily Gwei, I'm in no way endorsing it, you should absolutely vett it yourself as hard as you would anything else, but just wanted to point out that it is a project that might meet your needs

well what did we expected its just a broker eventually(no way such a lucrative business could go unregulated)anyway wtf a you surprised about if you still trading crypto into usd

tell them what it is, send those tax receipts instead, and tell em to have a good day

WTF! I'm certain this will poses a significant threat to user privacy. I strongly oppose any on-chain doxxing that involves KYC.

It is good you value your privacy. I believe there should be a way of incorporating privacy preserving chain like SECRET to provide technology that support privacy by defaults, empowering individuals to choose what information they share and with whom.

Back in the day when I first signed up for coinbase I was 16 and a freshman in high school. You didn't need any of that stuff!

B

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They will all be like that eventually.

more recent option: utilizing Metamask/PayPal. can cash ETH to USD into ur PayPal, and may have other options in your state (I'm in NY, don't use any CEX)

A lot of the other exchanges require you to do the same. Coinbase is a public company and is highly regulated compared to others

Have you explained your situation to them? I had similar to this on Kraken at least 5 years ago. It's not new. In the U.K. you can't even buy a house without providing similar kinds of documentation. People will always blame corrupt Gov'ment and conspiracies etc but the reality is no one stands up and complains about it. And then you've got crypto and tardfi packed with scammers everywhere. It's hardly surprising we're in this mess.

Well well well - this is a choke point.

Custodia bank is just designed for this situation but it is only for institutional and accreted investors for now.

Sounds like you live in a fascist police state

Its a standard procedure in all cex.

Exchanges are government stooges. This is why Bitcoin was created because it isn’t under jurisdiction everyone will learn seemingly only the hard way.

We should make an exchange like the GE in runescape. Completely decentralized with the ability to exchange any amount of crytpo for different crypto.

I think because you are only cashing out and not purchasing.

I would take some of the cash you receive, go to Gemini and make buy some ETH.

Then remove the ETH to your cold storage.

If you are cashing out more than you have deposited, then it will raise a flag.

For all they know you are doing something illegal and getting paid in Crypto.

ETH already recovered from yesterdays dump + some 🔥

Whatever other exchange or fiat offramp you use, the requirements for those information will be similar. KYC is mandatory for you to continue using CEXs, they need to update the information you provided when opening the account (or they never asked for it in the beginning and are just asking you for it now).

Provide your ETH address(es) that you used for the NFT transactions, as well as onchain transactions (link, pdf, etc) that makes it easy for them to verify you buy/sell NFTs and then cash out using coinbase. Bank statements to show you cashed out from coinbase to your own account and not funneling money, source of wealth like paystubs and tax statements you filed over the years to prove that you used money you had (and not gotten through hacks, scams, etc) to build up your gains.

Feel free to DM me any questions

Maybe because you’re trying to use coinbase internationally LOL , you should preface your statement with the truth FIRST and not send these people into a whirlwind of disinformation

Operation Chockepoint 2.0

They are, I think, in the process of doing the same to me.

For depositing a large sum of money. I haven’t withdrawn anything in 6+ months.

Now my account is restricted, even though I reverified right after that.

Their customer service sucks. The agents clearly are not native English speakers and say shit that doesn’t make sense/misunderstand questions too frequently. I have been waiting to hear back about an “account review”.

It’s really frustrating, but ultimately - other than the support - this is the US government’s fault for going after crypto companies and all the bullshit AML/KYC laws Coinbase is trying to comply with.

Get legit. Make a company, report your trades, pay salary to yourself and issue tax forms. Then submit those to coinbase. You’ll need them for literally every exchange at some point in the future if you want to put USD into a bank account.

just state you're a private entity trading NFTs and that all of your profits are declared and tax paid for. you can show original purchases that lead to the NFTs or if you're an artist just link to your project. tell them you aren't working for a company and you're a sole trader.

What does cb say when you tell them you have none of the requested docs since they don’t apply to your situation?

What do the folks who live off an inheritance or a trust and do not work do in such a situation? There has to be a workaround solution for traders who do not earn a regular income via work or disability.

Imo in the future (5y+) CEXs are going to be obsolete for consumers and will only service institutions for compliance. Retails will move to on-chain perps like Drift and Infinex, agnostic chain dex like Chainflip, Thorchain, C3 might replace CEX spot

Ask CZ and his $4.5B fine about it. All the major exchanges that aren't outright frauds are highly regulated.

i feel for you. i went through this process about a year and a half ago and the 3rd party team performing these KYC checks is extremely incompetent. it was super invasive. as long as you paid all your taxes youll be fine.

if the requests are not reasonable or the documents they want just dont exist tell them and push back.

i gave them everything they asked for and more. they made me contact my former employer to get the HR letter and then they asked me to go back to my former employer MULTIPLE times for edits to that HR letter. once for a missing middle name, another time for a missing home address, and another because the letter wasn't from the "HR department" (my former company had like 10 employees).

At one point they even accused me of tampering with the HR letter. I threatened to complain to coinbase at that point and then they approved me and it was over with.

I also use Kraken. i have zero complaints using them.

I had to do all of that — it was quite a hassle but they were understanding. Basically I showed them my tax returns and my eth address history pulled for my tax return along with a few other things from my ‘day job’

Decentralized alternatives to Coinbase:

a) https://bisq.network/ (fiat on and off-ramps)

b) https://haveno.exchange/ (beta)

c) https://thorchain.org/

d) https://www.mayaprotocol.com/

You guys saw the plot twist in the movie "Promised Land." If billions of money is involved, I am certain we in the crypto space are been conned by very powerful people to make us think that crypto is "NOT" the way out of the already manipulated system. That's why we have shit like FTX, and they will blow this stuff way out of proportion in all the media to keep us away from our freedom. Won't be surprised if SBF and the like are infiltrators from ( not the government ) the individuals way high, I would like to call them the puppeteers, Always tree steps ahead.

The only way out of this is to self custody your funds. There are various wallets out there for you to use;
hot wallets; Trust wallet, metamask
hardware/cold wallets; Ledger, Trezor
Private wallets; Stash, Samourai, Railway.
Take your funds out of CEXs, it's not safe!