I think that if KYC become an ICO standard, ICOs will die.
If they want to be regulated, then they don't need an ICO at all! Personally I will never invest in any ICO who's requesting documents. It's killing the whole point of crypto-investments.
Topic: Do ICO's need KYC and AML checks or will that kill innovation? - page 2. (Read 676 times)
Is it inevitable or even desirable for blockchains and their ICO's to become more regulated or to least run their ICO's in more risk averse ways such as submitting to AML and KYC checks?
Atlas City Finance has just begun its 1 month pre-ICO which is expected to be popular in part due to the large 30% pre-ICO discount but to offset this the ICO is unusual in that it is being run against a set of AML and KYC checks to protect the business, the blockchain and investors. The question remains whether requiring such strict rules to be applied to investors will deter investors or attract more traditional investors who welcome more voluntary regulation.
Smaller investments up to 1 BTC in value don’t need KYC or AML checks but larger investments can be used to move money illegally which is why such checking can be helpful. Since Atlas City Finance is really trying to establish market credibility for its other products and services such as Plutous then it makes sense to be over cautious of how the Olympus blockchain is funded. It remains to be seen how ICO investors will react to such checks being carried out and it’ll certainly be of interest to other upcoming ICO’s who are considering how to present their coin offerings.
A presentation that combines Plutous and Olympus is provided in the following link. The ICO is just for the Olympus blockchain and its Olympian coins but this presentation looks at the wider Plutous financial services platform and how it makes use of the features of the Olympus blockchain to provide scale, anonymity and smart contracts in more familiar programming languages.
For full disclosure I'm involved in the blockchain and Atlas business but I find the wider question of whether AML and KYC's protection is good or bad for the blockchain industry as a whole very interesting. Sure it makes sense for a commercial organisation in the financial sector but is it over-restrictive for startup's looking to raise money quickly for without being too intrusive into funding sources? What are your views on these kinds of test or regulations more broadly?
https://www.atlascityfinance.com/media/AtlasCityFinance_BusinessPresentation.pptx
Atlas City Finance has just begun its 1 month pre-ICO which is expected to be popular in part due to the large 30% pre-ICO discount but to offset this the ICO is unusual in that it is being run against a set of AML and KYC checks to protect the business, the blockchain and investors. The question remains whether requiring such strict rules to be applied to investors will deter investors or attract more traditional investors who welcome more voluntary regulation.
Smaller investments up to 1 BTC in value don’t need KYC or AML checks but larger investments can be used to move money illegally which is why such checking can be helpful. Since Atlas City Finance is really trying to establish market credibility for its other products and services such as Plutous then it makes sense to be over cautious of how the Olympus blockchain is funded. It remains to be seen how ICO investors will react to such checks being carried out and it’ll certainly be of interest to other upcoming ICO’s who are considering how to present their coin offerings.
A presentation that combines Plutous and Olympus is provided in the following link. The ICO is just for the Olympus blockchain and its Olympian coins but this presentation looks at the wider Plutous financial services platform and how it makes use of the features of the Olympus blockchain to provide scale, anonymity and smart contracts in more familiar programming languages.
For full disclosure I'm involved in the blockchain and Atlas business but I find the wider question of whether AML and KYC's protection is good or bad for the blockchain industry as a whole very interesting. Sure it makes sense for a commercial organisation in the financial sector but is it over-restrictive for startup's looking to raise money quickly for without being too intrusive into funding sources? What are your views on these kinds of test or regulations more broadly?
https://www.atlascityfinance.com/media/AtlasCityFinance_BusinessPresentation.pptx
If u want regulation there is no point for an ico. U can go the regular route of getting vc fundingn and later launch on wall street. Thats fully regulated.
ICO are valuable because they need to produce a token that hs crypto economic value. As investor just make sure the token has utility and value and else dont invest into it.
Is it inevitable or even desirable for blockchains and their ICO's to become more regulated or to least run their ICO's in more risk averse ways such as submitting to AML and KYC checks?
Atlas City Finance has just begun its 1 month pre-ICO which is expected to be popular in part due to the large 30% pre-ICO discount but to offset this the ICO is unusual in that it is being run against a set of AML and KYC checks to protect the business, the blockchain and investors. The question remains whether requiring such strict rules to be applied to investors will deter investors or attract more traditional investors who welcome more voluntary regulation.
Smaller investments up to 1 BTC in value don’t need KYC or AML checks but larger investments can be used to move money illegally which is why such checking can be helpful. Since Atlas City Finance is really trying to establish market credibility for its other products and services such as Plutous then it makes sense to be over cautious of how the Olympus blockchain is funded. It remains to be seen how ICO investors will react to such checks being carried out and it’ll certainly be of interest to other upcoming ICO’s who are considering how to present their coin offerings.
A presentation that combines Plutous and Olympus is provided in the following link. The ICO is just for the Olympus blockchain and its Olympian coins but this presentation looks at the wider Plutous financial services platform and how it makes use of the features of the Olympus blockchain to provide scale, anonymity and smart contracts in more familiar programming languages.
For full disclosure I'm involved in the blockchain and Atlas business but I find the wider question of whether AML and KYC's protection is good or bad for the blockchain industry as a whole very interesting. Sure it makes sense for a commercial organisation in the financial sector but is it over-restrictive for startup's looking to raise money quickly for without being too intrusive into funding sources? What are your views on these kinds of test or regulations more broadly?
https://www.atlascityfinance.com/media/AtlasCityFinance_BusinessPresentation.pptx
Atlas City Finance has just begun its 1 month pre-ICO which is expected to be popular in part due to the large 30% pre-ICO discount but to offset this the ICO is unusual in that it is being run against a set of AML and KYC checks to protect the business, the blockchain and investors. The question remains whether requiring such strict rules to be applied to investors will deter investors or attract more traditional investors who welcome more voluntary regulation.
Smaller investments up to 1 BTC in value don’t need KYC or AML checks but larger investments can be used to move money illegally which is why such checking can be helpful. Since Atlas City Finance is really trying to establish market credibility for its other products and services such as Plutous then it makes sense to be over cautious of how the Olympus blockchain is funded. It remains to be seen how ICO investors will react to such checks being carried out and it’ll certainly be of interest to other upcoming ICO’s who are considering how to present their coin offerings.
A presentation that combines Plutous and Olympus is provided in the following link. The ICO is just for the Olympus blockchain and its Olympian coins but this presentation looks at the wider Plutous financial services platform and how it makes use of the features of the Olympus blockchain to provide scale, anonymity and smart contracts in more familiar programming languages.
For full disclosure I'm involved in the blockchain and Atlas business but I find the wider question of whether AML and KYC's protection is good or bad for the blockchain industry as a whole very interesting. Sure it makes sense for a commercial organisation in the financial sector but is it over-restrictive for startup's looking to raise money quickly for without being too intrusive into funding sources? What are your views on these kinds of test or regulations more broadly?
https://www.atlascityfinance.com/media/AtlasCityFinance_BusinessPresentation.pptx
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