Onboarding Friction with Offshore Crypto Exchanges for Larger Accounts
Curious if others are seeing increased friction onboarding with some of the more established offshore crypto exchanges when trying to push larger volumes or significant capital. I'm talking beyond the standard Tier 1 KYC and into the realm where they start asking for proof of funds, detailed source of wealth, and sometimes even a tax opinion letter for corporate accounts. It feels like the goalposts have shifted over the last 12-18 months. Where before a solid passport and utility bill were often enough, now it's a full-blown financial audit just to get decent limits. This isn't necessarily about avoiding regulation, but more about the sheer time sink and intrusive nature of some of these requests, especially when trying to diversify across a few different platforms for liquidity management or specific token access. Are others experiencing this, and if so, have you found certain platforms to be more pragmatic in their approach, or is this just the new baseline for anyone moving serious size in the crypto space?
Yeah, definitely seeing that too. It seems like the scrutiny ramps up significantly past a certain threshold, which isn't always clearly defined upfront. Have you found any exchanges that are better equipped to handle that kind of volume with a smoother process?