What is the purpose of Webull requesting my SSN for trading cryptocurrencies?

7 answers

• Espensen OwensApr 08, 2023 · 2 years ago
  Webull requires your Social Security Number (SSN) for trading cryptocurrencies as part of their compliance with Know Your Customer (KYC) regulations. KYC regulations are in place to prevent money laundering, fraud, and other illegal activities. By collecting your SSN, Webull can verify your identity and ensure that you are a legitimate user. This helps protect both you and the platform from potential risks.
  410

  205
• RATAKONDA CHARANYAJan 12, 2025 · 7 months ago
  Webull asks for your Social Security Number (SSN) to comply with regulatory requirements. Cryptocurrency trading is subject to certain legal and regulatory frameworks, and providing your SSN helps Webull ensure that they are operating within these guidelines. It also helps them verify your identity and protect against unauthorized access to your account.
  356

  119
• gavs_77May 20, 2025 · 3 months ago
  As a third-party expert, I can tell you that Webull requests your Social Security Number (SSN) for trading cryptocurrencies because it is a standard practice in the industry. Many reputable exchanges and trading platforms require this information to comply with KYC regulations and prevent illegal activities. It's important to provide your SSN to ensure a safe and secure trading environment.
  393

  99
• stephen_adairSep 19, 2020 · 5 years ago
  Webull's request for your Social Security Number (SSN) is a common requirement among cryptocurrency exchanges. This is because the exchange needs to comply with regulatory standards and ensure that they are not facilitating any illegal activities. By collecting your SSN, Webull can verify your identity and protect both you and the platform from potential risks.
  363

  73
• Luke VJul 27, 2022 · 3 years ago
  Webull asks for your Social Security Number (SSN) to ensure the safety and security of your cryptocurrency trading activities. By collecting this information, they can comply with regulatory requirements and prevent unauthorized access to your account. Providing your SSN helps Webull establish trust and maintain a transparent and compliant trading environment.
  362

  61
• Cenforce 120Sep 25, 2022 · 3 years ago
  Webull requires your Social Security Number (SSN) for trading cryptocurrencies in order to comply with anti-money laundering (AML) regulations. These regulations aim to prevent illegal activities such as money laundering, terrorist financing, and fraud. By verifying your identity through your SSN, Webull can ensure that they are not facilitating any illicit transactions.
  373

  54
• Salling PraterJun 21, 2023 · 2 years ago
  Webull's request for your Social Security Number (SSN) is a standard procedure in the cryptocurrency industry. It is necessary for them to comply with regulatory requirements and prevent any potential misuse of the platform. By providing your SSN, you are helping Webull create a secure and trustworthy trading environment for all users.
  337

  43