The Poloniex exchange has undergone a lot of transformations over the years. Much of those developments forced users to turn their back on this company.
Particularly the latest investment by Justin Sun’s company has caused a lot of friction.
What is Poloniex Doing?
To regain some momentum, the company is looking to shake things up.
Some users have claimed to receive a somewhat controversial email.
In the alleged email, it appears that the company is removing its KYC and AML requirements, sort of.
Users who sign up can receive up to $10,000 in withdrawals without going through verification.
Old Poloniex customers who never went through this process will receive the same benefits accordingly.
It would be rather strange to see the company remove KYC and AML requirements.
Over a year ago, they were acquired by Circle.
That financial service provider focuses on compliance first and foremost.
Since spinning out from Circle, a lot of odd developments have taken place at Poloniex and behind the scenes.
Removing KYC and AML is not a viable course of action for an exchange trying to cater to users globally.
Considering how the post is on the Poloniex blog, it may have some credibility after all.
Only time will tell if this a smart business decision.