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BitKub verification mess


BobBKK

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On 8/13/2023 at 9:38 PM, FruitPudding said:

My stock broker in Luxembourg was also very specific when updating their KYC record for me. 

 

They wanted utility bills too. It's just to prove you currently reside there. 

 

Your housebook doesn't prove you currently live at that address. You could just be registered there or own the place, but not actually be living there now.

 

I have utility bills for a home in Europe that i haven't visited since pre-covid... Utility bills mean very little...

 

Residence certificate should be the norm (for tax and proof of living etc in said country, and house).

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  • 3 weeks later...
8 minutes ago, richard_smith237 said:

Considering you have Thai Nationality, thats extremely strange. 

OR, are you registering as a foreigner ?

I changed to Thai. 

They mentioned being busy and some docs are out if date and need resubmitting. 

Not going to bother, as allowed 2 million a day in level one. 

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  • 4 weeks later...

Being a foreigner I lost trading access about 2 months ago (I dont have anything much on the exchang),

If I try to verify Bitkub say they are still working on verification for foreigners but they havent updated that for months now, I sent a few requests for info but always get a cut and paste response.

Is there another exchange to register with so I can trade in a year or so?

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17 minutes ago, piewarmer said:

Being a foreigner I lost trading access about 2 months ago (I dont have anything much on the exchang),

If I try to verify Bitkub say they are still working on verification for foreigners but they havent updated that for months now, I sent a few requests for info but always get a cut and paste response.

Is there another exchange to register with so I can trade in a year or so?

Yes, it's called 'UpBit Thailand' - it's a spin off of the South Korean UpBit. They are a major platform, have their own app, etc.

 

I think that settles the argument about Bitkub 'having it in' for foreigners - they hate us for some reason - now would just like to find out why that is. There will be some reason behind it - there always is, nothing is random, even here.

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17 hours ago, ukrules said:

Yes, it's called 'UpBit Thailand' - it's a spin off of the South Korean UpBit. They are a major platform, have their own app, etc.

 

I think that settles the argument about Bitkub 'having it in' for foreigners - they hate us for some reason - now would just like to find out why that is. There will be some reason behind it - there always is, nothing is random, even here.

They do not hate you. They are complying with their KYC and trying to meet govt regulation whatever those are.

 

Foreigners living temporarily in Thailand would be subject to increased scrutiny and whether they are worth the  risk or not.

 

The problem is there is a lot of shady dealings around crypto and one has to thank those for increased govt monitoring, rules and regulations surrounding crypto and money.

 

Also thank the OECD and these professional companies who are probably peddling their global rules and wares by promoting their specialist offerings and making money off giving anti money laundering seminars.

Edited by freeworld
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On 9/28/2023 at 10:23 AM, freeworld said:

They are complying with their KYC and trying to meet govt regulation whatever those are.

Nonsense, I have an account at a different exchange (UpBit Thailand) which is 100% AML/KYC compliant and there's none of these problems - the problem is a Bitkub problem not any kind of legal obstacle.

 

 

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12 minutes ago, Neeranam said:

Is anyone else getting tax forms from BK almost every day? 

What kind of tax form? Is it a 'tax receipt' or a form you're expected to fill out?

 

If it's a tax receipt then I get them every time I deposit and purchase something from UpBit.

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10 hours ago, ukrules said:

What kind of tax form? Is it a 'tax receipt' or a form you're expected to fill out?

 

If it's a tax receipt then I get them every time I deposit and purchase something from UpBit.

Bitkub Online Co.,Ltd. is pleased to send you a document of the Receipt / E-tax invoice for your transaction on Bitkub platform on 2023-06-15. Please check your tax invoice in the attached file.

 

An encrypted file. 

Edited by Neeranam
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I went to Upbit thailand site, the first screen that comes up says they also do "dip chip" (with your non-existant Thai ID) that's a dead end for foreigners.

Bitkubs tax reciept e-mail is a record of the fee paid on their transaction fee to get credits from the tax man.

Edited by piewarmer
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6 hours ago, piewarmer said:

I went to Upbit thailand site, the first screen that comes up says they also do "dip chip" (with your non-existant Thai ID) that's a dead end for foreigners.

Bitkubs tax reciept e-mail is a record of the fee paid on their transaction fee to get credits from the tax man.

Maybe I'm grandfathered in under the old signup rules as I've been using UpBit on and off to buy since just after they launched.

 

I guess one day I'll also be excluded, at which point the Mrs will open an account I guess.

 

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On 9/27/2023 at 4:34 PM, ukrules said:

Yes, it's called 'UpBit Thailand' - it's a spin off of the South Korean UpBit. They are a major platform, have their own app, etc.

 

I think that settles the argument about Bitkub 'having it in' for foreigners - they hate us for some reason - now would just like to find out why that is. There will be some reason behind it - there always is, nothing is random, even here.

Money laundering... or capital influx thus capital flight, same reason entered on this new tax... 

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On 10/15/2023 at 6:27 AM, piewarmer said:

Is there a crypto exchange in Thailand that is doing ID verification using documents, not Dip-Chip since July?

Yes, I know of 1 but it's OTC don't deal with figures below a certain amount as they have KYC/AML costs.... 

 

Mind it would be nice to learn of some private OTC's, are you looking to buy or sell?

 

Edited by Jenkins9039
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