Topic: KYC in ICO & Trading account - page 3. (Read 331 times)
this is good news, because in this way crypto in south korea will soon recover. and have an impact on the market, hopefully this will be good news for all of us. probably in some countries that prohibit can follow what south korea do.
When I joined the crypto world last year, there was no KYC.
It was still anonymous and it also have some problems/abuse as well:
1. Some individuals will create multiple accounts to buy lots of tokens in ICO's/TGE.
2. You can create accounts on any exchange, no KYC, just email. Still anonymous (Some are still anonymous though if you use a small amount to trade or take out)
It's just that more regulations from goverment and financial institutions as they would want to track everyone in crypto as well
It was still anonymous and it also have some problems/abuse as well:
1. Some individuals will create multiple accounts to buy lots of tokens in ICO's/TGE.
2. You can create accounts on any exchange, no KYC, just email. Still anonymous (Some are still anonymous though if you use a small amount to trade or take out)
It's just that more regulations from goverment and financial institutions as they would want to track everyone in crypto as well
South Korea has established regulations that every Crypto trading account should have a complete KYC. In my opinion initial coin offerings should also have KYC for every investor to be regulation compliant. Thus, terror financing will reduce to a great extent through cryptocurrency.
KYC isnt really a bad thing,this will protect each users from the exchange if someone hacks the exchanges they can easily recover what has been stolen,In ICOs KYC will protect the ICOs managers from fraudulent activities from the users for example double entries,but in the other hand the only negative things i see with this KYC verification is you will not have any privacy,your identication card might be sold to others that might use it for identity thefts. 
South Korea has established regulations that every Crypto trading account should have a complete KYC. In my opinion initial coin offerings should also have KYC for every investor to be regulation compliant. Thus, terror financing will reduce to a great extent through cryptocurrency.
it does not matter if you have to use KYC. because if KYC is used for verification data and anything positive about ICO will not be a problem. with the KYC I think that potential investors can be detected clearly and avoid criminal acts for example for terrorist financing.
I already talked a lot about the fact that I'm generally very unkind to the fact that the procedure KYC which came up, start to enter everywhere. After all, I still think that this violates the personal life of people.
South Korea has established regulations that every Crypto trading account should have a complete KYC. In my opinion initial coin offerings should also have KYC for every investor to be regulation compliant. Thus, terror financing will reduce to a great extent through cryptocurrency.
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