Floin requests your tax ID to comply with the European Markets in Crypto-Assets Regulation (MiCAR). MiCAR establishes a legal framework for trading and safeguarding digital assets within the EU and mandates measures for transparency, investor protection, and anti-money laundering compliance.
By collecting your tax ID, Floin ensures it meets MiCAR’s requirements for anti-money laundering (AML) and counter-terrorism financing, as these regulations require a clear and reliable verification of user identities (Know Your Customer, KYC). Additionally, the tax ID supports tax compliance, as profits from crypto transactions are taxable in many countries. Compliance with these regulations is for your protection and enables Floin.com to continue offering legally compliant and trustworthy services.
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