level 3 is based on bank making a credit check/approval on you as a person, similar to getting a normal credit card in the bank, it means it is the same conditions needed to have theapporval as if you were applying for a normal credit card.
What is the reasoning behind this, seeing as no credit is involved?
Also, what is ccedk stance on this?
http://www.newsbtc.com/2015/06/26/are-european-banks-keeping-tabs-on-bitcoin-transactions/[/quote]
Considering the amount of people out there, who is unfortunately havng bitcoins obtained the illegal way! This kind of level 3 validation I feel is needed to insure you are always able to know your customer (KYC) in case of illegal issues. It is like with anything else involving illegal activities, that no matter the agreements or clauses that might protect your privacy all bets are off in case of any suspicion involving money laundering, terror based activities etc. Its not a rule I have created, it does however make me feel good that I am part of limiting these kind of activities. Again, situation has to be severe for informatio to be shared, and at CCEDK our aim is to always follow and abide with the rules an regulations of Denmark. It also means that countries within EC still have their own and separate ways of looking at matters when it comes to bitcoin or crypto related activities.
When it comes to that article you mention, I think that none of us can allow ourselves to be naive to think that if we change our bitcoins to fiat nobody will ever know about it, so it's important to have your answers ready just in case, but this is just my personal view and opinion on this. As we know this whole spectre of information flow is changing every week, and I think the only way to insure personal success with crypto,
as long as fiat as a currncy is needed ,is to play out things and projects in an honest and realistic way always bearing in mind that tomorrow is a new day with new challenges.