Hello,

That’s an excellent question. I got the same email yesterday.

They clearly say that API access requires KYC and the coin adapter uses the API, so yes, this affects users of the coin adapter.

What I find surprising is that it took them so long to do this, not that they are doing it. All wallets/exchanges/etc are required by law to do this. It’s not like they want to inconvenience their users, but it’s not up to them. My guess is that since they only require KYC for commercial activity, this is probably a requirement from governments for tax purposes.

What’s more, even if you use only the full node adapters on your own servers, you are probably affected by the same laws they are, and you should implement KYC yourself, but that’s another matter. Of course, not every legal jurisdiction has the same laws, but if your users are international, it’s something to keep in mind and discuss with a lawyer.

Personally I will have to go through their KYC process so that I can continue to test and support the coin adapter. For any more details it’s best to contact the CoinPayments support about this.

with regards