To use the services of the platform, should I undergo a KYC procedure?
Yes, we will apply KYC and AML procedures because of:
1. Long-term standing.
We want TOKPIE to become the leading P2P cryptocurrency exchange. To achieve real business success, Tokpie needs to demonstrate that it is aiming for more than short-term financial gains, what is most important to us is providing the best possible service for our users.
2. Reputation and public perception
By implementing KYC and AML regulations from the initial token sale, Tokpie will ensure that the platform is protected from potential fraud.
3. Ability to reach a larger audience.
Having KYC and AML safeguards in place will allow Tokpie to attract a much larger audience and expand its reach into countries which operate more stringent financial regulatory requirements.
4. Avoid Compliance Complications
By being transparent with financial regulators from the start, we can avoid complications which could arise
5. Keeping track after the token sale
Incorporating KYC and AML checks into the token sale process can help the platform keep track of investors (not allow restricted countries' participation)
6. Avoid fines.
Governments have begun to clamp down on unregulated exchanges, charging substantial fines for those platforms which have failed to show that they have the necessary statutory procedures in place. In 2017 it was predicted that fines of over $4billion would be issued globally for non-compliance with AML.
