Does your local CEX as you to verify the information of your sender

[Somegory]

I am guessing that after this abomination became a thing people are still using the platform?  Because if the likes of myself is the people that are left in this world the platform will end up closing down, because no one will use them and they won't make any money, if anyone is using this platform and doing the things they asked for they are complete fools.

[blockman]

It's from a Philippine local exchange and he's right that we're always asked as in every transaction that comes to you, they'll ask you automatically where it came from or whom sent it to you. And that's why I just fill it in always with the answer that it is from "myself" and I just post the TXID in the form that they provide to us and then it's good to go.

do they not check if the transaction really came from "yourself"? and what happens if you don't have the sender details?

You can play out the sender's details with any name because it has a choice of "institution" + its name and you have still need to include the TXID. I don't think that they're really checking any details input on it. And if you don't have the sender's details, it will be pending there and will appear on your account which is annoying that it always displays.

It's an easy requirement but they shouldn't really be asking that info anymore. I guess it has something to do with our central bank being too strict with their rules for the local exchanges to avoid anti money laundering.

it's easy now, untill they start asking for more, and money laundering is just an excuse (like always), they just want to take your privacy away.

That's the sad truth, they're not like that several years ago. 

[Z-tight]

I am guessing that after this abomination became a thing people are still using the platform?  Because if the likes of myself is the people that are left in this world the platform will end up closing down, because no one will use them and they won't make any money, if anyone is using this platform and doing the things they asked for they are complete fools.

Other centralized exchanges might not ask you for this information in this way, but any centralized exchange can confiscate your funds and ask you for any information. I also believe that for insignificant amounts, they may not care about whatever information you input in there, so you can probably lie about it.

However, that may not be the case with larger amounts, and with such large amount, your funds can also be confiscated in other exchanges, since someone already confirmed that this local exchange is doing this at the behest of the government.

[Potato Chips]

I am guessing that after this abomination became a thing people are still using the platform?  Because if the likes of myself is the people that are left in this world the platform will end up closing down, because no one will use them and they won't make any money, if anyone is using this platform and doing the things they asked for they are complete fools.

It's probably similar to blockchain.com/.info which we know is a poor wallet and exchange but is still able to pull a certain number of users of unsuspecting newbies or loyal old users because they're riding on their past glory. They have definitely lost a huge chunk of folks because of the strict rule though, and most likely will still continue to do so.