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by chrismcb 1435 days ago
Why should he did any of those things? Why is it his responsibility to make sure his customers are not crooks? Why does he need to get any info from his customers? Why does he need names, addresses and phone numbers?
2 comments

it is his responsibility.

money laundering laws in germany require banks to verify every transfer above 1000 euro. cash payments of more than 10000 euro need to be documented as well.

i believe the rules are similar across the EU.

what's unclear is how that relates to cryptocurrency. does the source of the cryptocurrency have to be verified, or just the source of the fiat currency when cryptocurrency is sold for?

I know you're looking for idealogical reasons, but the answer is because it's the law of the land and failure to do so will result in state sanction.