I am sorry but what does KYC rules mean? I am waiting for what Ken has to say on Monday. He says he is putting together a FAQ list but he is going to have to make some changes soon after that comes out for this security to make sense and ultimately to benefit the shareholders. Once all this gets sorted out and taken care of the shareholders as well as future investors will be happy. Hopefully he comes through for the shareholders. I am sure many of us would be more than willing to invest more once they feel confident in the terms and agreement.
KYC = 'Know Your Customer'. Basically, rules enforced on banks so they have to 'know' who their customers are. The idea is applying such rules will help frustrate attempts at fraud and money laundering, which often pivot on an individual assuming a false identity.
Now, btct.co and BitFunder, while being virtual simulations, are likely to have insisted on some level of proof of ID from the owners of listed securities, even if not required by their local laws. So, I have a feeling they know more about Ken than we do, and if Ken didn't exist, he would have never been listed.
