The crypto currency exchange ShapeShift changes the user registration system
“Change” is too soft a definition for the changes waiting to be users of this platform. ShapeShift used the so-called basiccontrol model, but all good things come to an end. Now wishing to exchange digital assets with the help of this service you will have to register.
ShapeShift has launched a new membership program, which will eventually become mandatory for all users. All of this disguised as a loyalty program, suggesting certain advantages. But a closer look reveals that the program collects personal user information that, in fact, is the complete opposite of the previous model of “crypto currency exchange without account”.
Eric Voorhes, CEO of ShapeShift, ideological libertarian and a supporter of Segwit2x, didn’t hold back and called requirements for the collection of personal data “suck”, adding that the exchange had to be led by financial regulators, which require the introduction of the KYC rules.
“We still firmly believe that people, regardless of their race, religion or nationality, deserves the right to financial integrity in the same way they deserve the right to privacy, says Eric. Is a fundamental element of civil society, and this right should be protected”.
But while withstand the pressure of the regulators is not yet part in the “loyalty program” is optional, but by the end of 2018 when the market will complete the transition to a new model of interaction with users, each trader will be obliged to undergo verification.
In this situation Voorhes offers to close their eyes to the negative aspects of the new rules and focus on the positive. It is! All registered traders will receive good discounts and bonuses, which will be the higher, the more money the user will navigate through ShapeShift.