Bitcoin exchange Bitstamp has requested additional personal information from users, citing the need to comply with regulatory requirements.

In a letter received by Cointelegraph, the company asked customers to disclose the source of fiat and digital assets deposited on the platform.

The exchange has provided an indicative list of documents that can confirm the source of the funds. For cryptocurrencies, the list includes deposit/withdrawal emails, wallet screenshots, credit card statements, invoices, and digital asset contracts, among others.

The company now needs data on citizenship, place of birth, tax residency. Bitstamp also asked users for information on annual income, net worth, expected activity on the platform, and projected deposits for the year.

“If you want to continue using our services, you need to update your account as some information is out of date. As a thank you, we will reward you with a $25 bonus after completing the terms.

According to a post on Reddit, Bitstamp has closed withdrawals for EU users who have not verified the source of the deposit.

In the thread, a person claiming to be a Bitstamp employee replied:

“We realize that we are asking for a lot and this is a huge inconvenience. However, please understand that we MUST FOLLOW our regulatory authorities if we are to continue serving you.”

Recall that in January 2021 the exchange brought additional KYC-Procedures for Dutch customers wishing to withdraw funds to third party wallets. This was due to the introduction of new money laundering regulations in line with EU standards and regulations. FATF.