Bitstamp: Unverified Bitcoin Accounts at Risk of Government Seizure

Bitstamp announced today that select users who fail to verify their accounts within the next 28 days risk having their balances forfeited to regulatory authorities.
One of the largest bitcoin exchanges in terms of daily USD trading volume, Bitstamp stated that all users who fail to go through its account verification process will be deemed to have violated its terms of services and be subject to the related penalties.
In statements to the press, the company acknowledged that while some customers will complain about the decision or take their business elsewhere, the move is necessary given the demands and goals of its global platform.
Bitstamp wrote:
‘We believe it makes good sense for us to act in a conservative fashion and to do our best to safeguard the integrity of the system. Each day, each minute, each second, Bitstamp provides an online exchange in which we match buyers and sellers, and through these myriad transactions, help to set the real-time value of bitcoin for use by merchants and customers around the world.’

This post was published at Coin Desk on October 16, 2014.