For KYC/AML 4d party can be useful but it should be trusted one. 
How difficult is it too b implement on a site that's already developed. 
Topic: Determinations of KYC and AML - page 3. (Read 621 times)
For KYC/AML 4d party can be useful but it should be trusted one.
KYC is very much important in my opinion this cannot be left.
KYC is important for fraudulent ICO projects. This is unquestionable. They disappear not only with the money of investors. but also with their confidential information and copies of their passports, as well as with similar data of credulous participants in the generosity campaign ICO. In the future, and they will be able to sell this information.In the case of bounty hunters, the ICO team here is not at all entitled to require them to undergo a KYC check. No country requires this. Some countries, such as the US and China, are only worried that their citizens will not suffer material losses because of the risky investments of their funds in ICO projects. Therefore, prohibitions do not apply to persons who are not investors in ICO projects.
KYC is very much important in my opinion this cannot be left.
KYC is important for fraudulent ICO projects. This is unquestionable. They disappear not only with the money of investors. but also with their confidential information and copies of their passports, as well as with similar data of credulous participants in the generosity campaign ICO. In the future, and they will be able to sell this information.In the case of bounty hunters, the ICO team here is not at all entitled to require them to undergo a KYC check. No country requires this. Some countries, such as the US and China, are only worried that their citizens will not suffer material losses because of the risky investments of their funds in ICO projects. Therefore, prohibitions do not apply to persons who are not investors in ICO projects.
What determines if an ICO requires KYC and AML?
Do not invest in ICOs "no one will force you to invest" unless you trust who is behind those projects.
If those projects are registered and have headquarters" like banks," they will be required to know their users, but if they are not, they are trying to scam you and selling your data in the black markets.
So do an in-depth search of the project, the developer team, and their personal information before sending any data.
For more read, the letter addressed to the United States Senator Ron Wyden[1] or this:
Generally, under existing regulations and interpretations, a developer that sells convertible virtual currency, including in the form of ICO coins or tokens, in exchange for another type of value that substitutes for currency is a money transmitter and must comply with AML/CFT requirements that apply to this type of MSB. An exchange that sells ICO coins or tokens, or exchanges them for other virtual currency, fiat currency, or other value that substitutes for currency, would typically also be a money transmitter,
[1] https://coincenter.org/files/2018-03/fincen-ico-letter-march-2018-coin-center.pdf
What determines if an ICO requires KYC and AML?
Do not invest in ICOs "no one will force you to invest" unless you trust who is behind those projects.
If those projects are registered and have headquarters" like banks," they will be required to know their users, but if they are not, they are trying to scam you and selling your data in the black markets.
So do an in-depth search of the project, the developer team, and their personal information before sending any data.
For more read, the letter addressed to the United States Senator Ron Wyden[1] or this:
Generally, under existing regulations and interpretations, a developer that sells convertible virtual currency, including in the form of ICO coins or tokens, in exchange for another type of value that substitutes for currency is a money transmitter and must comply with AML/CFT requirements that apply to this type of MSB. An exchange that sells ICO coins or tokens, or exchanges them for other virtual currency, fiat currency, or other value that substitutes for currency, would typically also be a money transmitter,
[1] https://coincenter.org/files/2018-03/fincen-ico-letter-march-2018-coin-center.pdf
may have onerous restrictions of their citizens invest in ICOs. it should be on their site somewhere or you could simply try signing up.
Their headquarters, where they plan to operate, and if they're even registered. They may also implement KYC procedures even if they aren't required by law.
If you're asking how to know whether or not they implement the procedures themselves, it should be on their site somewhere or you could simply try signing up.
If you're asking how to know whether or not they implement the procedures themselves, it should be on their site somewhere or you could simply try signing up.
Another factor is whether the ICO is open to investors of all countries. Some countries, including the US, may have onerous restrictions of their citizens invest in ICOs. You could argue that cryptocurrencies are stateless, but governments have a way of establishing nexus and coming after you. That is one reason why ICOs (and even gambling sites) restrict participation from US citizens.
Their headquarters, where they plan to operate, and if they're even registered. They may also implement KYC procedures even if they aren't required by law.
If you're asking how to know whether or not they implement the procedures themselves, it should be on their site somewhere or you could simply try signing up.
If you're asking how to know whether or not they implement the procedures themselves, it should be on their site somewhere or you could simply try signing up.
Another factor is whether the ICO is open to investors of all countries. Some countries, including the US, may have onerous restrictions of their citizens invest in ICOs. You could argue that cryptocurrencies are stateless, but governments have a way of establishing nexus and coming after you. That is one reason why ICOs (and even gambling sites) restrict participation from US citizens.
Thanks for the information everyone. Why do some ICOs restrict the US and certain territories?
Scammers and jerks will find new way dont worry but though it is essential 
What determines if an ICO requires KYC and AML?
If they requires it? I think it is based on their own standard. I don't think that anybody requires them for it (at least for now, there are no proper regulation that I know of), it is just on their own decision so as to prevent multiple registration and also protect the subscribers.
Preventing multiple registration would help them reduce fake registration which will make their job also easy. It is more rigid when they require uploading of passports and approved national identity cards. This is a good check to scammers and spammers.
KYC is very much important in my opinion this cannot be left.
Their headquarters, where they plan to operate, and if they're even registered. They may also implement KYC procedures even if they aren't required by law.
If you're asking how to know whether or not they implement the procedures themselves, it should be on their site somewhere or you could simply try signing up.
If you're asking how to know whether or not they implement the procedures themselves, it should be on their site somewhere or you could simply try signing up.
What determines if an ICO requires KYC and AML?
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