Why do I need to verify my identity on XBTO/Stablehouse?

As a regulated digital asset business. We are required to verify the identity of anyone wishing to use our platform. This ensures compliance with Bermuda's Know Your Customer (“KYC”) and Anti-Money Laundering (“AML”) regulations.

What is AML?

Anti-Money Laundering, refers to a set of laws, regulations implemented to combat the illegal activity of disguising unlawfully obtained funds as legitimate income. The primary objective of AML measures is to detect and prevent money laundering, financing of terrorism and proliferation financing

What is KYC?

KYC, is a process used to verify the identity customers

AML and KYC compliment one another. They involve multiple steps and checks to prevent the creation and misuse of fraudulent accounts, ultimately aiming to deter and detect money laundering and terrorist financing activities.