Why does an exchange want my ID and where the money came from?

Because the rules that let it touch the banking system require it. Refusing usually ends with the account frozen.

Platforms that handle money are supervised, and supervision comes with identity checks: a document, a photograph, sometimes proof of address. This is not a preference you can shop around — an operator that skips it is either outside the rules or outside your reach when something goes wrong.

The question that surprises people is where the funds came from. It is not an accusation. The bank behind the platform is required to ask, and a payslip, a sale contract or a bank statement usually ends the conversation in minutes.

What genuinely matters is who you hand documents to. A registered platform in a jurisdiction you can name is a different proposition from a website that appeared this year, and identity documents are worth as much to a fraudster as coins are.

KYC and AML define the terms; the country pages record what each place requires.

Last checked 19 Oct 2026.