Mt. Gox now requires verification for non-Bitcoin transactions

Mt. Gox now requires verification for non-Bitcoin transactions data = {blogUrl: "www.engadget.com",v: 315};when = {jquery: lab.scriptBs("jquery"),plugins: lab.scriptBs("plugins"),eng: lab.scriptBs("eng")}; var s265prop9 = ('20589413' !== '') ? 'bsd:20589413' : ''; var postID = '20589413'; var modalMNo = '93319229', modalVideoMNo = '93320648', modalGalleryMNo = '93304207'; when.eng("eng.omni.init", {pfxID:"weg",pageName:document.title,server:"acp-ld39.websys.aol.com",channel:"us.engadget", s_account: "aolwbengadget,aolsvc", short_url: "",pageType:"",linkInternalFilters:"javascript:,",prop1:"article",prop2:"internet",prop9:s265prop9,prop12:document.location,prop17:"",prop18:"",prop19:"",prop20:"", prop22:"jon-fingas", prop54:"blogsmith",mmxgo: true }); adSendTerms('1')adSetMOAT('1');adSetAdURL('/_uac/adpagem.html');lab._script("http://o.aolcdn.com/os/ads/adhesion/js/adhads-min.js").wait(function(){var floatingAd = new AdhesiveAd("348-14-15-14d",{hideOnSwipe:true});}); onBreak({980: function () { adSetType("F");htmlAdWH("93319229", "LB", "LB"); adSetType("");}}); EngadgetMenu NewsReviews Features Galleries VideosEventsPodcasts Engadget ShowTopics Buyers Guides Sagas Store HD Mobile Alt Announcements Cameras Cellphones Desktops Displays Gaming GPS Handhelds Home Entertainment Household Internet Laptops Meta Misc Networking Peripherals Podcasts Robots Portable Audio/Video Science Software Storage Tablets Transportation Wearables Wireless Acer Amazon AMD Apple ASUS AT&T Blackberry Canon Dell Facebook Google HP HTC Intel Lenovo LG Microsoft Nikon Nintendo Nokia NVIDIA Samsung Sony Sprint T-Mobile Verizon About UsSubscribeLike Engadget@engadgettip uswhen.eng("eng.nav.init")when.eng("eng.tips.init") onBreak({980: function () {htmlAdWH("93308280", "215", "35",'AJAX','ajaxsponsor');}});Mt. Gox now requires verification for non-Bitcoin transactionsByJon FingaspostedMay 30th, 2013 at 8:44 PM 0

While the Bitcoin market is advancing toward legitimacy in the financial world, that also means closer legal scrutiny -- and the Mt. Gox exchange is tightening its policies to match. As of today, the institution requires verification for every non-Bitcoin deposit or withdrawal. The move keeps Mt. Gox in line with "strict anti-money laundering rules," and it reduces the chances that security breaches will spark chaos. Verification won't be necessary for pure Bitcoin transactions, the exchange says. Some traders see the new rule spoiling dreams of a truly borderless currency, but it may help reassure those still skittish about virtual cash.

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Via: CNBC

Source: Mt. Gox

More Coverage: Mt. Gox (Facebook)

Tags: banking, bitcoin, currency, finance, mt.gox, mtgox, verification

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