Nobody seems to trust Roger Ver's newly announced cryptocurrency exchange

Roger Ver's newly announced cryptocurrency exchange wasn't well-received by the crypto community.

Bound to go live on Bitcoin.com next week, the exchange was heavily criticized on Twitter, with some accusing Ver of scamming people and using the platform to wash trade Bitcoin Cash.Crypto exchange set to launch on Bitcoin.com receives community backlash.

After successfully defending himself from a libel lawsuit by an equally contested figure in crypto, Craig Wright, Ver went on to announce that he will be launching a cryptocurrency exchange on Bitcoin.com.

According to its official website, the exchange is set to go live on Sept. 2 and will support Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin, and Binance Coin.

The exchange is Ver's answer to the increasingly strict know-your-customer and anti-money laundering protocols applied to cryptocurrency exchanges and marketplaces such as LocalBitcoins, in line with his hardline libertarian political views.

Despite the generous rewards program offered by Bitcoin.com, the news about the exchange wasn't well-received, to say the least.

With just a few more days left before trading on the Bitcoin.com exchange goes live, the crypto community seemed eager to put its two cents in.

The account reached out to its 976,000 followers and asked what they thought of Ver's exchange.

Many accused Ver of being a scam and a fraud, as both Ver and his company continually refer to Bitcoin Cash as the "Only Bitcoin," thus misleading those interested in actually buying the original cryptocurrency, BTC.This is what fraud looks like.

Finally, some Twitter users said that they fear the Bitcoin.com exchange will be used for wash trading Bitcoin Cash to increase its liquidity.