UPDATE (24 January 2018): The new back office is LIVE. Check it out now via this link and learn more about how the back office is designed to work via our blog and scroll down for the YouTube video explainer.
At NetLeaders, we are proud to lead the way in world-class compliance for the cryptocurrency industry. As regulation continues to develop in the sector, both we and our members can be confident that we are in a great position to face this important challenge head-on.
And as we continue to tighten up these processes, the good news is that you, as license-holders, will be able to benefit from a wider range of payment providers.
In accordance with these procedures, we are announcing an important change for all advocates who have earned more than €600 (including commission) through the lifetime of their Netleaders account.
Once you reach this limit, you will need to complete the KYC* process to withdraw any further funds. This change will come into effect on February 13 so please make sure you start the process as soon as possible to avoid disappointment.
If you have already completed the KYC process via WebWallet, but not on NetLeaders, you will need to do so again for your NetLeaders account. If you have multiple NetLeaders accounts and complete KYC on at least one of them you do not have to go through the process again.
We are aware that in some circumstances, multiple individuals share a single email address. This will no longer be permitted because the KYC process needs to be applied to an individual. Check on the top left in the back office to see what email is applied to your account. If this is NOT your own email OR if another person is also using your email, please contact [email protected] to notify us.
If you wish to pay for a new license by using a gift code, you must have already completed the KYC process before you can begin the purchase process. Please be aware this can take several days. If you wish to issue a gift code be sure to issue it at least seven days before a Frequency change. If the recipient of the gift code has not completed the KYC process at the time of the Frequency change we will not be able to apply the pre-existing Frequency.
When you redeem your gift code you must also complete an AML** form. You will have to specify where your funds came from and how you sent them to the user who issued the gift code if you paid them for it.
All these new processes mean that NetLeaders and the whole DasEcosystem will be in a position of strength as regulations become more stringent in the cryptocurrency sector. You will also find it easier to purchase new licenses or increase existing ones after the imminent changes are applied.
* KYC stands for Know Your Customer. This is the banking-standard process which verifies a person’s identity. By operating KYC we may request copies of document(s) that confirm your identity.
** AML stands for Anti-Money Laundering. It applies to any of the procedures, laws and regulations designed to stop the practice of generating income through illegal actions. At NetLeaders, we are committed to doing everything we can to be compliant with the rules of AML.
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