Topic: Know Your Customer - page 25. (Read 5825 times)
For me I am good with Know your customer. Just for them to know that I have no dealings of money laundering or any drug dealing that they after. I am willing to share thoughts to them. I might also invite them how we do it and compare their salary to what we are having.
Its so necessary for any exchanges to know your costumer to make sure that it's true investors and trusted. It is the process of legality due to the companies regulation. So much good if you know more your costumer before you trust and believe it because there is a lot of victim here about scam so beware of this people to avoid this happens.
KYC is the process of the legal companies and some government employee to make sure that they're customers are in the legal age and they don't want to involved any 17 year old and below. For sure it is compile but it doesn't mean that it is reported to government.
it is deemed necessary for any exchanges to kyc, it is somehow stated in their country's law on remittances as per central bank, it is a sort of security measures to control remittances being transacted, just like here in our country, all remittance centers are issuing identification tags or cards if you are to receive or send money elsewhere in the world. i think that was the same when it comes to crypto exchanges, anonimity ends when you deal with 3rd party exchanges.
It is important that you best identify your customer if it is not a scam. to have people trust you. you'll get More trusted people.. thank you..
I don't really know the actual to what ICO requires some KYC, because in my opinion it is a very sensitive data, but most likely the KYC is used to find out the area because I see there are some countries that prohibited to be the participation in some of the ICO.
I think it will be useful to require only for the investors during ICO to avoid scammers on the site but it is not good to require also for claiming up on the reward for different campaign because not all participants have a paper for the verification. We have work for them, to advertise their project but worst and the end they required KYC to everyone. If KYC applied, i think that mean they have to keep that document save. They applying KYC because the regulation and on the government regulation, its necessary to keep document save or if that document leaks, its criminal activities. Thats just my2cents
For exchanges, ICOs that collect KYC information, when are they required to send information to the government.
If I remember correctly, in the US if you make a money transaction, such as through Western Union, or bank, $3,000+, within the same day, or smaller amounts during consecutive days, the institution must collect your ID information and Social Security and report it to the government. I forget which entity of the government.
Does that mean that if one participates in an ICO and puts in over $3,000, that gets reported to the government? Or if you move $3,000 out of an exchange, that gets reported?
If I remember correctly, in the US if you make a money transaction, such as through Western Union, or bank, $3,000+, within the same day, or smaller amounts during consecutive days, the institution must collect your ID information and Social Security and report it to the government. I forget which entity of the government.
Does that mean that if one participates in an ICO and puts in over $3,000, that gets reported to the government? Or if you move $3,000 out of an exchange, that gets reported?
Kyc is just normal because it was mandatory for every business to have that since it was implement in the law's , the only problem is that, there are ico's today who are asking kyc for bounty hunters without even placing the rules immediately at the start of campaign and it sounds like a scam.
I don't really know the actual to what ICO requires some KYC, because in my opinion it is a very sensitive data, but most likely the KYC is used to find out the area because I see there are some countries that prohibited to be the participation in some of the ICO.
I think it will be useful to require only for the investors during ICO to avoid scammers on the site but it is not good to require also for claiming up on the reward for different campaign because not all participants have a paper for the verification. We have work for them, to advertise their project but worst and the end they required KYC to everyone. 
I don't really know the actual to what ICO requires some KYC, because in my opinion it is a very sensitive data, but most likely the KYC is used to find out the area because I see there are some countries that prohibited to be the participation in some of the ICO.
I think it will be useful to require only for the investors during ICO to avoid scammers on the site but it is not good to require also for claiming up on the reward for different campaign because not all participants have a paper for the verification. We have work for them, to advertise their project but worst and the end they required KYC to everyone.
I think that it is not always necessary to pass this thing. Now there is a lot of scum, and after passing kyc it is unknown in what direction your data will be used. And how to resist this?
hem maybe your right KYC can making them to send our information to goverment, i don't know what they want to doing if they know who sending over 5k or more, i think they doing that just to prevent money launderer and corruption i think
I don't think that's how it is. Bitcoin and altcoin services do not require government interaction but if they are cracking us then that is a big problem. Privacy is a big issue and nobody likes if someone interferes with it. I personally do not think that exchanges or campaigns reporting the information to the government on purpose but if they have to withdraw the amount to the Real world then they have to show the proof that they are getting the money from us something which link to us then that's a law. If they do not show it to the government then they will put them behind the bars.
I support KYC registration for ICO projects because it verifies the identity of the investor to reduce fraud in ICO projects. KYC also helps limit the speculation of investors using multiple accounts to buy large amounts of tokens and can dominate the crypto.
I disagree completely with this, why new projects need to know who you are? What is going to change for them if they know your name and where you live? Nothing, nothing is going to change the ico is going to be as successful as it could be, and I am also against limitations to the amount of tokens that you can buy, while I am not a whale and I do not invest in icos I do not see the point of that limitation, if someone wants to invest let him invest, it's his money he should be free to buy as many tokens as he wants besides by doing that icos limit the money that they could get out of investors.I support KYC registration for ICO projects because it verifies the identity of the investor to reduce fraud in ICO projects. KYC also helps limit the speculation of investors using multiple accounts to buy large amounts of tokens and can dominate the crypto.
I disagree completely with this, why new projects need to know who you are? What is going to change for them if they know your name and where you live? Nothing, nothing is going to change the ico is going to be as successful as it could be, and I am also against limitations to the amount of tokens that you can buy, while I am not a whale and I do not invest in icos I do not see the point of that limitation, if someone wants to invest let him invest, it's his money he should be free to buy as many tokens as he wants besides by doing that icos limit the money that they could get out of investors.I support KYC registration for ICO projects because it verifies the identity of the investor to reduce fraud in ICO projects. KYC also helps limit the speculation of investors using multiple accounts to buy large amounts of tokens and can dominate the crypto.
I disagree completely with this, why new projects need to know who you are? What is going to change for them if they know your name and where you live? Nothing, nothing is going to change the ico is going to be as successful as it could be, and I am also against limitations to the amount of tokens that you can buy, while I am not a whale and I do not invest in icos I do not see the point of that limitation, if someone wants to invest let him invest, it's his money he should be free to buy as many tokens as he wants besides by doing that icos limit the money that they could get out of investors. 
The government is very concerned about the problem of control over cryptocurrencies. Hardly do they have an established scheme that allows them to knowing your KYC data to track your transactions and movement on your accounts. I hope they don't show up. State control has long choked people and does not give a chance to remain anonymous and earn. Cryptocurrencies are our chance!
KYC is also being used by many ICO but I think it is not a permanent solution. There are many ways whereby people can bypass or cheat the KYC by providing the wrong information. and as far as government concern to control the digital currency, it will simply not gonna happen with KYC or any other method.
I agree mate! Scammers are jut around and we all have to be careful. They may arrive at anytime or even try to stare at us in whatever way they would like. We should be careful on using KYC because it might be interfered by the scammers. Also, detailsof others that are not there maybe widely used now to steal and whatsoever.
I don't really know the actual to what ICO requires some KYC, because in my opinion it is a very sensitive data, but most likely the KYC is used to find out the area because I see there are some countries that prohibited to be the participation in some of the ICO.
I think everybody wants to make a KYC definition in order to prevent a possible fraud and to be a little stronger in the legal issues, or the users are asking for it, I do not really need it, because it is such a night comfort that being anonymous is also stressless
As long it came from a trusted team then KYC will be fine, many scammers and abusers around, so it will help to lessen them when we get atleast stricter in some terms.
No, the fact that you invested money in ICO, will know only you and those people to whom you gave your money.
I think everybody wants to make a KYC definition in order to prevent a possible fraud and to be a little stronger in the legal issues, or the users are asking for it, I do not really need it, because it is such a night comfort that being anonymous is also stressless
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