Topic: Know Your Customer - page 6. (Read 5806 times)
KYC right now become usual and i think its good for cryptomarket. I think doing KYC is good to comply with government regulation. Most people and government think cryptocurrency is for money laundering and i think with KYC, people can erase negative thinking about cryptocurrency
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?
For sure it is reported, if we're talkin about $3000 worth deal.. everything over $100 is tracked I guess cause because every bank transaction is taken care of, and especially big amount deals can be linked to your account
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?
always know your customer because most of them or those of people are scammer, they scam you so be wise and be practical in what situation. 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?
not all countries make regulations on KYC, as far as I know KYC was not initially applied to bounty hunters, but nowadays bounty hunters are getting used to being obliged to submit KYC to obtain their rights.
I have participated in a bounty campaign which requires sending kyc, to get their token distribution. and in the end the coin has a good price, but it doesn't know if there is a project that blames it, because with a lot of data they can do something that is detrimental to their custumer, lucky at that time I put the right project 
not all countries make regulations on KYC, as far as I know KYC was not initially applied to bounty hunters, but nowadays bounty hunters are getting used to being obliged to submit KYC to obtain their rights.
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?
Unfortunately, as the blockchain projects need to become an entity it is inevitable to be hidden as an investor as you have to report your identity to them. I think they don't give them your identity to the government. Only the companies that you exchange crypto to fiat and fiat to crypto do this. If you make a big transaction in this process then maybe your government will be aware of that.
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This is become a polemic because there are people who are pro and contra, I myself a person who does not objection to KYC, as long as it is in the interests of the government and not misused or abused. but some other users may be contradictory, because anonymity and privacy are the main things they join and invest in in crypto or ICO
in our country Indonesia this is actually clear about the rules and regulations. I really agree with you, don't mind doing KYC. Referring to existing regulations, developers should report and submit investor / KYC lists to the government through OJK and BI after the IPO / ICO process is complete. the problem is that there are parties who use this by selling KYC lists to other parties. This indeed violates privacy. 
I think KYC is a polemic that there is a pro and some are contradictory. on one side of the KYC is needed to prevent something that can harm other parties, on the other hand, this KYC does not guarantee the security and confidentiality of our personal data,
About security, I am believe they will not break government regulation. KYC needed for government because government want to prevent illegal activity. But i am agree that always be polemic because some people do not want to send their identity for safety.
I wouldn't like to send my sensitive information to a brand new company doing an ICO, so this is a very good question. Knowing what will be done with that information.
Now the Internet is very common trade data KYC checks from many well-known exchanges, and even more so from fraudulent projects ICO. For ten dollars, you can buy hundreds of data of various persons and their documents that have previously been tested by KYC somewhere. In more lots, this data will be even cheaper. I don’t see any sense in this passage of KYC checks. In addition, it is not known when committing any crimes our confidential information may appear in the future. We need to shy away from KYC checking, especially while participating in the ICO bounty campaigns. 
I think every country has its own regulations on investment, but for crypto, I think most of them have required KYC, both for exchange and ICO
It's true that every country has different rules for running their projects. There are some countries that prohibit giving KYC to the team from the project.
now many ICOs use Kyc to recognize their investors because various countries do not want the public to participate in ICO
And there are sanctions for their citizens, so it is clear the ICO project is using PCs to protect the prohibited area for their projects
they did aim for that, but as long as our identity is not misused, I don't think it's a problem. because the original self data is of course very important to be kept confidential And there are sanctions for their citizens, so it is clear the ICO project is using PCs to protect the prohibited area for their projects
Sacrificing personal data just to participate in ICO or Airdrop is unnecessary. Personal data is something that is privacy to avoid those who abuse it. Unless you are a big investor and it's okay if your data is known by people why not just give it.
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?
I think that is a proper and legit transaction to prevent illegal transaction through send volume of money for illegal activities KYC may apply for standard operating procedure is needed.
now many ICOs use Kyc to recognize their investors because various countries do not want the public to participate in ICO
And there are sanctions for their citizens, so it is clear the ICO project is using PCs to protect the prohibited area for their projects
And there are sanctions for their citizens, so it is clear the ICO project is using PCs to protect the prohibited area for their projects
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?
Know your customer first before trusting and even you investors . You must know and investegate all there background to avoid bad things . 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?
well. the main advantage of cryptocurrencies and blockchain based financial items is being anonymous and decentralized. if i share my private personal informations with others and if i am controlled by some authorities, where is the logic?
KYC standing for Know Your Customer where many ico have include data or upload their id before buy or invest at some ico project investment, many ico have regulated for KYC because there are have many country not allowed for their people ti participated at ico investment like US.
Depending on your business you must know your customer first, for you be able to classify who is the vip’s and who’s not. But treat them equally because you need them all. Customer is always right from the myth itself, always consider what they contribute in you company so you can give back the rewards to them. So they can refer you to other customers.
I think KYC is a polemic that there is a pro and some are contradictory. on one side of the KYC is needed to prevent something that can harm other parties, on the other hand, this KYC does not guarantee the security and confidentiality of our personal data,
About security, I am believe they will not break government regulation. KYC needed for government because government want to prevent illegal activity. But i am agree that always be polemic because some people do not want to send their identity for safety.
Trades can't work without the collaboration of government, trades can give information to the legislature when they need to do as such. Exchanges from banks and trades can be followed by government and each nation has its very own principles and approaches. Here in my nation if your exchange constrain crossed $8000 you will be given a notice from responsibility office to give your advantages/salary detail and their starting point.
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