The current regulatory environment is changing for exchanges. WOO X has every intention of being compliant, which long-term will allow us to scale around the globe. We want to make sure that we provide a secure and trustworthy environment for retail and institutional traders.
To stay ahead of regulatory developments and ensure compliance with local anti-money laundering regulations, WOO X will be enhancing and enforcing stricter Identity Verification for all current WOO X users and new users that join on or after Aug 20, 2021. We will be giving current WOO X users a grace period to complete the KYC identification process.
We encourage all users to complete the Identity Verification process as soon as possible. Please note that WOO X will not be able to support users that do not complete Identity Verification. To ensure that you can continue accessing the full range of features on your account, please follow the instructions below:
[ For existing users in Beta (Before Aug 20, 2021) ]
- In order to continue accessing your account, Identity Verification has to be completed on WOO X before 00:00 AM Sep 20, 2021 (UTC).
- Please note that users can only trade with Spot mode without identity verification in the grace period.
- After the deadline on 00:00 AM Sep 20, 2021 (UTC), users who do not pass the Identity Verification will be restricted from trading, staking, and depositing until Identity Verification has been completed. Users will still be able to unstake WOO tokens and withdraw funds from the platform after that time.
- Users can still restore the affected service by completing Identity Verification. Otherwise, only withdrawal, unstaking, and pending order cancellation will be available after Sep 20th.
[ For new users after Aug 20, 2021 (Official Launch) ]
- This Policy is effective immediately for new account registrations on Aug 20, 2021, all new users can not have full services until they complete the identity verification.
[ Identity Verification steps ]
- Step 1: Log in to WOO X and go to the account page, then click Level up to start
- Step 2: Provide your personal information and POA for verification
- Step 3: Complete face and passport scanning verification
Note: WOO X only supports passports as ID type at current stage. The identity verification process can take up to 3 days or more during peak times.
[ FAQ ]
Feel free to contact us through email@example.com if you have any further questions or help regarding Identity Verification.
Thank you for your continued support.
WOO X Team