Why does Ndax require identity verification?

As part of our Know Your Customer (KYC) identification process, we require all users to verify their identity before they can start trading on our platform. Ndax is a Money Service Business (MSB) registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and Revenue Quebec and is required to adhere to all applicable rules and regulations under Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). 

The collection of information allows us to:

• Stay in compliance with applicable rules and regulations
• Provide you with the best service possible
• Use collected information to verify your identity if your credentials are lost