On September 4, a crypto exchange ShapeShift announced the launch of loyalty program ShapeShift Membership.
The exchange will be collecting users’ personal information as a part of their newly implemented program.
ShapeShift Membership will offer users various advantages, such as rewards for transactions with a FOX token, depending on the volume of transactions, increased limits on the transaction and many more services.
Currently the registration is voluntary but in the nearest future it will become mandatory.
The CEO Eric Voorhees stated that this initiative was a necessary step in response to unclear regulators’ attitude towards crypto exchanges, also he added that some users expressed their desire to implement such changes for better user experience.
“We still firmly believe that individuals, regardless of their race, religion, or nationality, deserve the right to financial privacy, just as they deserve the right to privacy in their thoughts, in their relationships, and in their communications. Such privacy is a foundational element of a civil and just society, and should be defended by all good people. We remain committed to that cause and it is best served if we are smart about our approach”, – he added.