As we have the legal obligation to make sure that our customers use only lawful funds to finance their trading activity on our trading platform, we have to ask you to fill in a Declaration of Source of Funds.
In this questioner, you are asked to answer a few questions by completing a document called a Declaration of Source of Funds to which we provide you a link sent by an email. It is fast and simple standard procedure and our Customer Support is always glad to answer your questions and assist you with it!
Later on, you might be asked to provide us with an actual Proof of Source of Funds - a document which allows us to get closer insides into where your funds come from.
Under the 5th AML Directive, virtual currency platforms are now under the legal obligation to implement Customer Due Diligence (CDD) procedures for the purposes of anti-money laundering and countering the financing of terrorism (AML/CFT). In January 2020 the 5th AML Directive transposed into nation law and Coinify is now registered with the Danish Financial Authorities. This means that Coinify is now legally obliged to conducting customer due diligence on our clients and ensuring compliance with all applicable laws and regulations necessary to forestall and prevent money laundering. Take a look at our Legal Page to learn more about the Compliance checks Coinify performs.