Crypto Investment Compliance Challenges

Summary

New enhanced due diligence requirements are affecting your ability to manage your crypto investment. Review your investment agreement for compliance clauses and contact the platform for clarification on your edd rejection. Consulting a local attorney can help explore legal remedies.

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In * I bought an svp representing future shares of the crypto exchange Kraken via a broker called BnkToTheFuture. At the time I had to pass an investment and finance competence test in order to qualify, which I did successfully. I also went through AML and KYC procedures. I got confirmation of my account being verified and I was authorised to buy such svp. I got a certificate for them. Now, I am being blocked by the request to provide evidence of my actual funds due to some new requirements related to EDD (enhanced due diligence). I have been rejected numerous times because my situation does not qualify. MY view is that I bought this asset in good faith while respecting and submitting all the info plus passing the test at the time and any changes that come afterwards should not affect my enjoyment of my property, including selling it. I paid $*,* and the secondary market shows transactions worth $*,* for the same amount of shares in the svp. I uploaded the agreement.
It sounds like you're facing challenges due to new Enhanced Due Diligence (EDD) requirements. Here's what you might consider:
- Review the Investment Agreement: Check if it addresses changes in compliance requirements.
- Contact the Platform: Seek clarification on why your situation doesn't qualify.
- Legal Advice: Consider consulting with a local attorney to explore potential legal remedies.
Would you like assistance finding a local lawyer in Bangkok?
I want you to read teh agreement and tell me what can I do based on it.
Based on the uploaded investment agreement, you might consider the following actions:
- Review Compliance Clauses: Check the agreement for any clauses regarding compliance changes and investor obligations post-investment.
- Platform Communication: Clarify with BnkToTheFuture the specific reasons for your EDD rejection and seek their guidance.
- Legal Consultation: As the situation involves adherence to new regulations affecting your rights, consulting a local attorney is advisable.
If you need assistance finding a local lawyer in Bangkok, let me know!