INX Legal

Verification Procedures And Limits

Important Information About Procedures for Opening a New Account

To help the government fight the funding of terrorism and money laundering activities pursuant to USA PATRIOT Act of 2001, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

As a regulated financial service company operating in the USA we are required to identify users on our platform. This ensures we remain in compliance with Know Your Customer (“KYC”) and Anti-Money Laundering (“AML”) laws in the jurisdictions in which we operate, something that is necessary for us to be able to continue to offer digital currency exchange services to our customers.

INX Digital and our affiliates collect and verify information about you in order to:

  • protect INX Digital and the community from fraudulent users, 
  • to keep appropriate records of INX Digital’s customers, and
  • manage any transaction limitations

All customers who wish to use INX Digital services, including the sending and receiving of Digital Assets reconciled to a blockchain, are required to establish an INX Digital Account by:

  • Providing their personal information including:
    • Full name
    • Valid email address and password
    • Date of birth
    • Permanent residence address
    • Phone number
    • Social Security Number (‘SSN’) or Taxpayer Identification Number (‘TIN’) – this is required for US Persons only.
  • Completing verification fields for proof of identity and address (see below for more details)
  • Providing information on employment, financials and investment experience.
  • Accepting the terms of the INX Digital User Agreement, Privacy Policy, and any onboarding confirmations, if applicable.

Identity Verification

In order to verify the identity of an individual opening an account, INX Digital will require a valid (non-expired) government issued ID document such as:

  • Passport
  • Driver’s license
  • National identity card (front + back)
  • Other valid government-issued ID may be accepted if it has your full legal name, photo, date of birth and issue and expiry dates all on the front of your ID.

We do NOT accept firearm licenses.

‍Address Verification

In order to verify the residence address of the individual opening an account, INX Digital will require a proof of residence documentation. This must contain the person’s name, address and be dated less than 3 months ago from the date of submission.  Valid documents include, but are not limited to:

  • Bank statement
  • Credit card statement
  • Utility bill (water, electricity, gas, internet, phone)
  • Tax return document
  • Brokerage statement
  • Current driver license or national identification card with address.

We do NOT accept:

  • P.O. Box addresses from any country
  • USPS change-of-address letters

For documents in languages that use non-Latin characters, a notarized translation of your proof of residence document will greatly speed up processing time.

Additional documentation we may request:

Users may be required to sign transactions prior to sending them to INX Digital’s Custodian Partner. Notwithstanding these minimum verification procedures, INX Digital may require you to provide or verify additional information, or to wait some amount of time after completion of a transaction, before permitting you to use any INX Digital Service and/or before permitting you to engage in transactions beyond certain volume limits.

Things to note:

  • A valid ID document that also shows your address on the front may be acceptable for both proof of ID and proof of address.
  • A valid ID document needs to be up-to-date, valid, not expired and in color.
  • Unclear scans or low-resolution images, poor light or excessive glare will be rejected.
  • Expired documents past their valid dates will be rejected.
  • Documents not in the same name provided during registration will be rejected.
  • If you do not provide the information requested or your identity cannot be verified, INX Digital may not be able to open an account or carry out transactions for you. If we have already opened an account for you, we may have to close it.