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.

[aioc]

I suspect many are complaining about this feature; some of my friends who still use this local exchange reported that they were not asked for the sender's details. I will have to prove this weekend and complete the transaction after I receive my payout. On my last transaction, this feature is still there.
They have released a press statement saying they want to be an all-in-one application for all payments, but they cannot do that if they include features their users don't like.

[bhadz]

I suspect many are complaining about this feature; some of my friends who still use this local exchange reported that they were not asked for the sender's details. I will have to prove this weekend and complete the transaction after I receive my payout. On my last transaction, this feature is still there.

I have been trying to check if that's the same on me. And after several transactions, I can say that they are no longer asking me for any sender's details. I guess that coins.ph have learned that they shouldn't be asking it anyway from time to time and have to remove it completely. I hope that this is gone permanently and they'll move on with the better service and focuses to the features of their apps instead of data-driven service that only benefits the government that doesn't even want competition in our locale.

[rat03gopoh]

They have released a press statement saying they want to be an all-in-one application for all payments, but they cannot do that if they include features their users don't like.

Wait, we've only been talking about them for a few weeks. Are they paying attention to this thread, or are they seeing the drastic drop in their activity statistics and hastily changing the policy? Hahaa..
If they keep this method just to comply with crazy local regulations, this will be their last year of operation before global exchanges absorb their loyal users.

[aioc]

They have released a press statement saying they want to be an all-in-one application for all payments, but they cannot do that if they include features their users don't like.

Wait, we've only been talking about them for a few weeks. Are they paying attention to this thread, or are they seeing the drastic drop in their activity statistics and hastily changing the policy? Hahaa..
If they keep this method just to comply with crazy local regulations, this will be their last year of operation before global exchanges absorb their loyal users.

We have this topic in our local board, and not only here on many social media, but I also guess the one thing that made them decide to take away this feature is that they have announced to become the number one all-in-one payment application, but they cannot do that if there is a feature that creates negative feedback.
I would need to gather more feedback if they remove this feature entirely, or for a subset of users based on their verification level.