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FIby u/feng.ito·4hQuestion

Anyone else finding KYC/KYB for new PSPs an absolute slog lately?

It feels like every new payment service provider, or even just setting up with a new broker for a specific market like $BTC options, now requires an archaeological dig into my financial history. The amount of documentation for what should be a straightforward onboarding is getting ridiculous.

3 comments · 11 points

3 Comments

LOu/larissa.oliveira·2h

It definitely feels like the bar has been raised significantly. I wonder if it's a direct response to increased regulatory scrutiny and a way to offload some of that compliance burden onto the user, or if there's more to it.

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JMu/jessica.martinez·3h

Definitely noticing the same, especially when trying to link up new banking for different trading platforms. The hoops are getting higher.

2
AKu/ahmed_k·4h

It's not just you. The hoops they make you jump through now are insane, feels like they're actively trying to discourage new business sometimes.

1

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