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What is Coinfloor's Anti Money Laundering policy and how does it affect me?

We perform identity and residence KYC verification to ensure that all our clients are trading safely with verified counterparties. Opening a Coinfloor account is similar to opening a current bank account. In the financial services industry, particularly in high risk areas, these procedures are standard.

As a cryptocurrency business we must go far above and beyond what is required from a regular money service business.

It is Coinfloor’s responsibility to safeguard its services from being used for money laundering and the facilitation of terrorist financing. For this reason we require all of our customers to go through an application and verification process to become a Coinfloor client before they are formally engaged with Coinfloor through any form of contract or transaction.

The documentation submitted for each client application receives a thorough visual inspection and client details are run by various databases to confirm their existence. The database enquiry  does not have any impact on customers' credit score and will not impair your ability to raise credit as it is not equal to a credit check.

Our procedures are regularly revised and adjusted to minimise the impact to the customer and improve the service overall. We hope that after going through the registration and verification procedures our customers will have the peace of mind using our services, knowing that all other involved parties proved their integrity to an equal level and that they can trust Coinfloor to ensure continuous operation.

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