Topic: AML/KYC Explained - page 16. (Read 396931 times)
will personal information of users be missused or stolen?
Do KYC and AML related to some jurisdiction or doesn't matter country/state? If so, how the average user can find what is required for instance in Ghana or Algeria?
KYC/AML is related to jurisdictions, however there are international rules that countries have to follow to be compliant. Usually FATF establishes such rules. In addition each bank should have its own KYC/AML policy
Do KYC and AML related to some jurisdiction or doesn't matter country/state? If so, how the average user can find what is required for instance in Ghana or Algeria?
I think that decentralized exchanges have good chances to make trading kyc/aml free, however how authorities would react??
It's an invasion of privacy in my opinion, but the world is controlled by man made laws, and this is how they maintain that control. If everyone was free range and able to do whatever they please, they would lose control. This is why BTC is attacked, obviously, and why ICO sales have been using KYC methods that are a total invasion of privacy. For example, Eximchain wanted to gain access to peoples GMAIL for the recent ICO. I mean wtf was that?! Also, the majority of these ICO's have reverted back to VC funding, so it's all private and the only public decentralized aspect of it are the airdrops, but even the airdrops are requiring full ID checks. I think Blockchain technology can end up becoming incredibly invasive. It depends on the project.
Any chance we'll get rid of KYC and AML anytime soon, for ICO investors? It's annoying and frankly if there's someone that should be KYCed and AMLed, it should be the ICO team.
Any exchange requiring minimal KYC accepting Euro?
You could try Kraken tough many people are complaining that the verification process lasts to much
due big surge in user base.
Here you have a description of the verification tiers and data required:
https://support.kraken.com/hc/en-us/articles/201352206-What-are-the-Verification-Tiers-
In case you register there and want to complain about something:
https://bitcointalksearch.org/topic/ann-krakencom-exchange-with-usd-eur-gbp-jpy-cad-btc-ltc-xrp-nmc-xdg-str-eth-290799
Thank you. I already have an unverified account over there
I am community manager at Quoine. We are the first licensed crypto exchange in Japan. We are using KYC and it is strongly required by FSA. As per my mind it is absolutly normal and I hope will be used by every exchange. But one point. If you send copies of your ID and statement to not licensed exchange.... Are you sure they will not use not on purpose... Can you be sure about " that side" 
Very good information. Thank for your post
Any exchange requiring minimal KYC accepting Euro?
You could try Kraken tough many people are complaining that the verification process lasts to much
due big surge in user base.
Here you have a description of the verification tiers and data required:
https://support.kraken.com/hc/en-us/articles/201352206-What-are-the-Verification-Tiers-
In case you register there and want to complain about something:
https://bitcointalksearch.org/topic/ann-krakencom-exchange-with-usd-eur-gbp-jpy-cad-btc-ltc-xrp-nmc-xdg-str-eth-290799
Thank you very much for providing Valuable information... but i am bit confused on how they are checking the accounts engaged with AML? is that finding by the country.. which was banned..?
This has become the standard AML/KYC thread for the crypto space.
Any exchange requiring minimal KYC accepting Euro?
Great thread, very informative, thanks!
I am thinking of helping my US friend open an account with Bitoasis. But it seems that US citizens cannot open an account? Do anyone know of any other middle east exchanges?
It seem that the LAND OF THE FREE won't give freedom to his own citizens to spend
freely their "own" money therefore all exchanges and ICO-s around the world are refusing US citizens.
What you could to to help him is to open an account on your name and give him access.
But it should access them over VPS because i suppose US IP addresses will be blocked and account frozen if they find out.
I am thinking of helping my US friend open an account with Bitoasis. But it seems that US citizens cannot open an account? Do anyone know of any other middle east exchanges?
Very informative thanks ~
Aml is necessary for everything that involves money transactions. It guarantees the government that there is notjing being violated against the law and it could also be the gateway for tax collection since government can get involve on the picture.
(AML) Anti-Money Laundering and Know your customers (KYC) they have emerged focus area for financial services to institutions. It's good to see the implementation of AML/KYC in ICO's which helps the organization to prevent fraudulent transactions.
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