No More KYC with ShapeShift

  • Going forward, ShapeShift will not transact with customers.
  • Instead, ShapeShift makes it seamless for customers to trade directly with decentralized protocols.
  • Because we are ending all regulated activity, we will no longer require KYC.
  • And for the protection and dignity of our customers, ShapeShift will integrate decentralized protocols wherever possible going forward.
  • Today, the decentralized protocols we’ve integrated only support Ethereum and ERC20 assets. We expect native, non-wrapped Bitcoin and several other leading chains to be supported for decentralized trading in Q1 2021.
  • Customers who wish to trade non-ETH assets today can still do so under our old model. This still requires KYC, as we remain the counterparty on these trades. Relatively soon, this service will be retired completely.
  • The ShapeShift platform has integrations with partners that are still intermediaries, such as fiat onramps. Such partners still require KYC.
  • Customers who have previously KYC’d with us: we are legally required to keep your information for a period of several years.
  • Bad guys: we are not your friends. There are various ways of surveilling blockchain transactions that are far more effective than KYC. Not only will we continue to cooperate with authorities where required by law, but we actively collaborate with industry groups to monitor and root out sinister activity. We are here to protect good people, and as such, stand resolutely against evil.
The ShapeShift Self-Custody Crypto Platform

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