Account approval procedures
When performing a basic profile check, we compare a legal identification document to the account information in order to:
- Evaluate the document’s validity
- Ensure the name matches
- Ensure the birthdate matches
We confirm that user’s address and home country are not on any OFAC-maintained list of sanctioned individuals or countries.
Name, address, and ID constitute the minimum set of requirements financial institutions are required to collect and retain in order to verify a customer’s identity.
Support for inheritance and probate
To ensure bitcoin are protected and lawfully transferred, the person authorized to handle the estate will need to present state-specific documents establishing their authority. The user identity information we collect allows us to authenticate these documents.
In the case of a foreign will, there may be additional steps taken before we would accept the orders of a foreign court, which will depend on the circumstances of the individual case.
After the expiration or termination of a client agreement, Unchained will delete the client’s confidential information in concordance with regulations and company data retention policies.