Cryptocurrency mining hardware giant Bitmain has announced that its platform is introducing a mandatory know-your-customer policy. All new customers will have to input information such as name, address, ID type and ID numbers to complete purchases. All existing customers have been sent notices as well, with failure to register resulting in being blocked from the platform or transaction cancellation.

Bitmain has assured customers that their information will not be shared with any ‘unauthorized’ third parties, although it has mentioned that governments are exempt from this assurance.

Users have speculated that the KYC compliance may be connected to Bitmain’s upcoming IPO.

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