Topic: Why Bounty Hunters Should Be Exempted from KYC/AML Procedures - page 3. (Read 4245 times)
I feel like everyone should do KYC/AML procedure- I don't understand why bounty hunters would be the only one who has the option to opt out. Can't these people turn bad too?
I can't agree less with this your write up about why hunters don't need to be force to do kyc. Hunters shouldn't have any business with KYC because they not putting fiat money as an investment which could violate anti money laundering act of many countries.
Let's think logically why would a bounty company member have to re-verify? As I personally believe, verification is mandatory only for investors as they buy tokens and participants of the bounty companies simply promote the project on media resources and no more than this is the answer to your question.
Which side does not approach the problem of passing KYC checks, legal or simply by logic; bounty hunters should not undergo such testing. Of course, bounty hunters are not only investors in ICO projects, but also clients of the ICO team. The customer is the one who pays the money.KYC checking is now used by many ICO teams at the end or even after completing an ICO for that. so that a significant part of bounty hunters do not pay out the tokens they have earned. In this case, it just turned into fraud.
Let's think logically why would a bounty company member have to re-verify? As I personally believe, verification is mandatory only for investors as they buy tokens and participants of the bounty companies simply promote the project on media resources and no more than this is the answer to your question.
KYC checks should be carried out only for the purpose for which it was intended, namely, to prevent the laundering of dirty money and to combat the financing of terrorism. That is, persons who invest in significant amounts of money in a cryptocurrency should be subject to such verification. Bounty hunters cannot be suspected of these illegal actions, as they do not invest in cryptocurrency. Therefore, they should not undergo any KYC checks. These actions of ICO teams are illegal.
If someone disagrees with me, what is the normative act that stipulates the obligation of participants of ICO bounty campaigns to undergo a KYC check. All this general talk about KYC checks for bounty hunters is contrived.
The bounty hunter's earnings aren't the amounts that can be used to finance terrorism or money laundering. I'm against going through the procedure KYC in the bounty. I voluntarily give away my personal data that can be resold to the scammers by a dishonest team especially if the project turns out to be a scam. In real life, scammers take out loans by someone else’s documents, withdraw funds from bank cards by blocking SIM cards usering documents, because we provide own phone number. If someone disagrees with me, what is the normative act that stipulates the obligation of participants of ICO bounty campaigns to undergo a KYC check. All this general talk about KYC checks for bounty hunters is contrived.
KYC checks should be carried out only for the purpose for which it was intended, namely, to prevent the laundering of dirty money and to combat the financing of terrorism. That is, persons who invest in significant amounts of money in a cryptocurrency should be subject to such verification. Bounty hunters cannot be suspected of these illegal actions, as they do not invest in cryptocurrency. Therefore, they should not undergo any KYC checks. These actions of ICO teams are illegal.
If someone disagrees with me, what is the normative act that stipulates the obligation of participants of ICO bounty campaigns to undergo a KYC check. All this general talk about KYC checks for bounty hunters is contrived.
If someone disagrees with me, what is the normative act that stipulates the obligation of participants of ICO bounty campaigns to undergo a KYC check. All this general talk about KYC checks for bounty hunters is contrived.
I fully agree with the author about the cancellation of KYC for participants in bounty companies,
I have been left without tokens more than once, when after asked to undergo KYC.
I have been left without tokens more than once, when after asked to undergo KYC.
I super agree with you about this. I also don't understand why we have to go through KYC and honestly sometimes, when I feel like the project is not strong enough and then they require bounty hunters to do KYC, I back out right away. I am trying to be careful with my ID and I don't want it to get in the hands of some wanna be project which I honestly don't know if I can trust. How I wish there is a policy here in BT for bounties to provide ID/KYC before they require their workers for such. At the moment, it is a one way process and really unfair for them to ask us for those information when we don't even know who they really are.
Indeed, bounty hunters are not spend their money in ICO, no money laundering happen.
AML should be only for investors who has huge amount of money that could be a money laundry activities.
Usually the KYC is not for preventing money laundry, the ICO company will give you other reason to do KYC.
KYC is needed for the Anti money laundering to determine the owner of the money, once that money is attached to illegal activities of money laundering. KYC has only become a basic requirement, establishments that are under the monitoring of the AMLC are required to follow that simply rule. AML should be only for investors who has huge amount of money that could be a money laundry activities.
Usually the KYC is not for preventing money laundry, the ICO company will give you other reason to do KYC.
Bounty hunter earnings could be different, but if the team will explain why it's needed and it's a compliance matter, we have to adopt with it.
How much are they even paying to bounty hunters to qualify it as huge amount that could lead to laundering, but because bounty hunter can still use their account to also purchase more coins, that is why they also have to pass through KYC too.
I strongly agree with this, If kyc is considered necessary for the bounty hunters then when starting the bounty, it must be described as disconnected. I think kyc only be paid for ico investor. After the end of bounty kyc manifestation is the type of scam.
I want avoid kyc instructions and I hope trust team will avoid kyc for the bounty hunter.
I want avoid kyc instructions and I hope trust team will avoid kyc for the bounty hunter.
this is can't be avoided in bounty campaign.many people too greedy and maybe they want to take all allocation only for them.and i am sure if there are many cheater , price will dumped easily.
but I guess the proper KYC is not the solution that can eliminate the bounty hunter cheat. may reduce the could but this KYC rules for I think not be the solution of the problems that you say about the bounty of cheating.
This is very correct, bounty hunters should be totally exempted from kyc, I think the kyc should be for those investing money into the project.
Also bounty hunters are useful in the sense that the create awareness for the project, and as such should be paid without having to go through kyc. The KYC issue has made many hunters loss their token reward because of failed kyc
Also bounty hunters are useful in the sense that the create awareness for the project, and as such should be paid without having to go through kyc. The KYC issue has made many hunters loss their token reward because of failed kyc
I think it is because there are many cheaters and fraudsters participated in bounty campaigns.
They are using many accounts to gain more reward and this is of course will bring disadvantage to hunter who work with single account.
I also think like you. Many bounty hunters have a lot of accounts to participate in a bonus campaign. Therefore, people who have only 1 account will lose a lot.They are using many accounts to gain more reward and this is of course will bring disadvantage to hunter who work with single account.
I think it is because there are many cheaters and fraudsters participated in bounty campaigns.
They are using many accounts to gain more reward and this is of course will bring disadvantage to hunter who work with single account.
I also think like you. Many bounty hunters have a lot of accounts to participate in a bonus campaign. Therefore, people who have only 1 account will lose a lot.They are using many accounts to gain more reward and this is of course will bring disadvantage to hunter who work with single account.
how you will know if a bounty hunter has alot of accounts ? not all have an alt account . the people or the bounty hunter that only have 1 account will not loose a lot but the owner is but they wouldnt mind it because that is what they want . they hire people to advertise thier company/project . kyc/aml is not the right tool to use if a campaign want to eliminate abusers because kyc/aml is only built for more important purpose , specifically for money related activities such as investing from an ico or withdrawing excess amount of cash/cryptos thru a wallet and online exchnages .
In other words, hunters cannot be accused of money laundering
They could be used as a form/part of money laundering IF the team would allocate funds for bounty hunters but would cut it short or won't distribute it at all.
If sending tokens directly to hunters will contravene the laws of the project's locality, then they should employ the services of a verified 3rd party escrow agent who can distribute tokens to bounty hunters at specified due date or just take the easy way out and pay hunters in another cryptocurrency like ETH or BTC.
This is just my personal opinion. Feel free to add your comments and suggestions.
This is just my personal opinion. Feel free to add your comments and suggestions.
I agree that a third party would conduct the KYC than the team itself. That way would be faster and safe. Safe in terms of bounty rewards which is escrowed, safe for participants identity if the project would turn out as a scam and fast because of an additional helping hand because of the third party.
I think it is because there are many cheaters and fraudsters participated in bounty campaigns.
They are using many accounts to gain more reward and this is of course will bring disadvantage to hunter who work with single account.
I also think like you. Many bounty hunters have a lot of accounts to participate in a bonus campaign. Therefore, people who have only 1 account will lose a lot. They are using many accounts to gain more reward and this is of course will bring disadvantage to hunter who work with single account.
actually the purpose of the bounty team to participants is to reduce multiple accounts, so for example when the stake calculation has started and distribution will be carried out, the team will do the kyc to check whether there is a double account there. if there is, it will be eliminated, because it has already been regulated from the start.
That can be the reason why but its too risky to participate on a new bounty where you need to provide your personal details. Its better to regulate those participants in anyway. Bounty hunters still have an option for this, they can just ignore those bounties that requires you to submit KYC. We can look for a more good project that requires minimal information, but right now there’s a lot of failed ICO.
In this post you have made a lot of very good points and I totally agree with you.
I believe that kyc and anti money laundering procedures is totally uncalled for and should not be imposed on bounty hunters because they are not investors and their only receiving tokens appoint as a payment for the services they have rendered.
When participating in kyc procedures by authors give out important information and personal data which could be at risk if it gets cleaned out or could be used for a host of things online and in the real world where services are being in that this is not the case so I believe that kyc procedures should be stopped for bounty hunters.
I believe that kyc and anti money laundering procedures is totally uncalled for and should not be imposed on bounty hunters because they are not investors and their only receiving tokens appoint as a payment for the services they have rendered.
When participating in kyc procedures by authors give out important information and personal data which could be at risk if it gets cleaned out or could be used for a host of things online and in the real world where services are being in that this is not the case so I believe that kyc procedures should be stopped for bounty hunters.
Sometimes I wondered why majority of the bounty campaign are not requiring to their participants to submit KYC, only few of them have that kind of rules. Meaning, KYC is just a piece of ____? most of the time even there is a kyc that campaign project is the one who are really scammer and cheaters. In short, whether the campaign has a kyc or not it is still the same that can be an scam ico project. However in the end we still do nothing but to follows the rules they have for the sake to receive our token.
actually the purpose of the bounty team to participants is to reduce multiple accounts, so for example when the stake calculation has started and distribution will be carried out, the team will do the kyc to check whether there is a double account there. if there is, it will be eliminated, because it has already been regulated from the start.
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