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Feature for KYC compliance

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Feature for KYC compliance

dashed-slug.net Forums General discussion Feature for KYC compliance

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  • #3714
    btctipme
    Participant

    Alex,

    I think the Admin authorization feature should be enhanced by including a limit to the amount required for an authorization, for example, a new account could be $500 USD/EUR or other, limit to withdraw funds unless a KYC verification is in place and the send option is to have an upper limit, for example, the $10K for AML verification.

    No need to consider the access level of the wallet, there are other tools to do that, only the amount allowed to be transferred should be controlled and is critical for KYC and AML

    This should enhance the wallet adapter and make more flexible in a more serious use as a financial tool.

    Cheers

    Adonis

    #3743
    alexg
    Keymaster

    Hello Adonis,

    You are correct in that this would help with compliance.

    A daily limit for withdrawals can help with security too and it has been my intention to implement one for some time now.

    Essentially this would have to be implemented at the level of the core plugin, not the exchange extension.

    Limits could be tied to user roles. Then, other tools can be used to assign different WordPress roles depending on what verification level each user has.

    Thanks, this is a valid point, I will make a note to implement this at some point.

    kind regards

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