F*CK POLONIEX: THEY ARE NOT YOUR FRIEND!!
Hey Friends!
For my followers who are based in the US, you may have heard the recent news that crypto asset exchange Poloniex just announced that they will be excluding US customers from their platform. After a deal with an Asian investment group, Poloniex will be spinning off from its parent company Circle to become an international crypto asset exchange platform, almost certainly due to the burden of US regulations.
If you are based in the US and have any assets on Poloniex, I strongly recommend withdrawing them immediately!
For those in the US who have used Poloniex to trade Monero (XMR) in a KYC verified/regulatory compliant manner and wish to continue doing so, we would recommend switching to Kraken instead since they are a well established US exchange and have supported Monero since 2017.
However, keep in mind that if you choose to use these US-based KYC verified/regulatory compliant exchanges, you should assume that they could be forced to report your trading activities to the IRS or other government agencies in the future if they haven’t done so already.
Note: “KYC” stands for “Know Your Customer” which refers to US banking regulations where financial institutions are required by law to collect all sorts of personal private information from their customers to prevent “money laundering”, and so on.
Some of my VIP subscribers have recently asked how to buy Monero and retain personal privacy. If you wish to purchase Monero more anonymously and retain your personal privacy, then be sure to follow the step-by-step methods as described in our private grouo. For extra privacy, we recommend running all of your Internet traffic through a trustworthy, secure, and private VPN, using an exit server preferably outside of the US (some ideas are available here).
Always remember the importance of the phrase: not your keys, not your crypto. Unless you are in the middle of a quick trade, we don’t recommend storing crypto assets (especially large amounts) on exchanges, but rather owning them yourself in a self-custody wallet, like Exodus.
Stay ahead of KYC Regulations,
Seth Maniscalco
Founder, Crypto Wealth Coach LLC
Owner, Modern Wealth Management LP
CryptoWealthCoach.com/VIP
For my followers who are based in the US, you may have heard the recent news that crypto asset exchange Poloniex just announced that they will be excluding US customers from their platform. After a deal with an Asian investment group, Poloniex will be spinning off from its parent company Circle to become an international crypto asset exchange platform, almost certainly due to the burden of US regulations.
If you are based in the US and have any assets on Poloniex, I strongly recommend withdrawing them immediately!
For those in the US who have used Poloniex to trade Monero (XMR) in a KYC verified/regulatory compliant manner and wish to continue doing so, we would recommend switching to Kraken instead since they are a well established US exchange and have supported Monero since 2017.
However, keep in mind that if you choose to use these US-based KYC verified/regulatory compliant exchanges, you should assume that they could be forced to report your trading activities to the IRS or other government agencies in the future if they haven’t done so already.
Note: “KYC” stands for “Know Your Customer” which refers to US banking regulations where financial institutions are required by law to collect all sorts of personal private information from their customers to prevent “money laundering”, and so on.
Some of my VIP subscribers have recently asked how to buy Monero and retain personal privacy. If you wish to purchase Monero more anonymously and retain your personal privacy, then be sure to follow the step-by-step methods as described in our private grouo. For extra privacy, we recommend running all of your Internet traffic through a trustworthy, secure, and private VPN, using an exit server preferably outside of the US (some ideas are available here).
Always remember the importance of the phrase: not your keys, not your crypto. Unless you are in the middle of a quick trade, we don’t recommend storing crypto assets (especially large amounts) on exchanges, but rather owning them yourself in a self-custody wallet, like Exodus.
Stay ahead of KYC Regulations,
Seth Maniscalco
Founder, Crypto Wealth Coach LLC
Owner, Modern Wealth Management LP
CryptoWealthCoach.com/VIP
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