Topic: Why Bounty Hunters Should Be Exempted from KYC/AML Procedures - page 7. (Read 4254 times)
Sometimes, i just doubt projects that ask for kyc from bounty hunters, because it births a lot of questions within me and make to to want to doubt their authenticity. Bounty hunters are not investors, so why the need. Although all STOs that i have seen would ask for kyc, which has been part of their requirements, claiming to be security tokens and that they have o be law compliant.
Kyc is nonsense and it abuses the word decentralized amongst crypto currency
Why do you need aml from bounty hunters ?
We invested our knowledge data and time and you request aml and kyc for that ?
It’s an absurd world of bounty hunting atm
Why do you need aml from bounty hunters ?
We invested our knowledge data and time and you request aml and kyc for that ?
It’s an absurd world of bounty hunting atm
It really is nonsense bounty hunters taking KYC, if the development where doing illicit things who could've known? We might get arrested without knowing, they might sell our identities out and tell the cops we are accomplices if their project was a total failure a scam that was busted. Also if bounty hunters are faking the projects, if they need KYC, some bounty hunters could just borrow Identification for processing their token withdrawals, and so KYC is also useless. In the end if we bounty hunters won't do KYC in the future then why not just skip the bounty hunting and be an investor or something else.
I don't know what ICO implement this KYC for bounty hunters, it has become the rules of some campaign, first, they will post that they can change the rule anytime during the campaign period in their bounty thread, second, they will change the rule, and will do a KYC and all ICO that implement this has become a scam ICO, so better ask the campaign manager before you proceed.
because crypto market is decentralized and supposed to be an anonymous ecosystem for its participants. bounty hunters are also a member of crypto ecosystem so it is ridiculous to demand kyc from them.
I share the point of view that bounty hunters should not pass KYC and AML verification. These requirements are intended for investors who are required to demonstrate the legitimacy of the invested funds. Bounty hunters on the contrary receive rewards from the project. It is absolutely incomprehensible why verification of bounty hunter personalities is necessary. And, on the other hand, scam projects can use the obtained personal data of bounty hunters for criminal purposes.
AML – Anti-Money Laundering
KYC – Know Your Customer
KYC and AML are terms used when a business or a project wants to identify and verify the identity of a client or customer. To verify identity, KYC checks may require an individual to submit copies of personal documents like National ID cards, International Passports, Drivers Licence, Utility Bills as well as a Selfie Image.
As a bounty hunter, I understand that cryptocurrency projects need to act in compliance with the government's financial policies where they use as their base of operations. Part of these financial policies usually require the implementation of KYC/AML processes for the investors who seek to purchase tokens or coins from ICOs or other token generation events. For investors to buy tokens they need to convert fiat to cryptocurrency and it is this main reason KYC checks come in to monitor and store data of investors participating in the sale as a move to control money laundering.
To this end, bounty hunters should have no business surrendering their personal documents since they receive tokens as payment for a service rendered and no transactions of fiat to cryptocurrency will be taking place on their part. In other words, hunters cannot be accused of money laundering.
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.
when hunters keeps deliberating about the kyc it makes them look more funny and childish. But for your post, it's not a must to do kyc or involve in project that does kyc KYC – Know Your Customer
KYC and AML are terms used when a business or a project wants to identify and verify the identity of a client or customer. To verify identity, KYC checks may require an individual to submit copies of personal documents like National ID cards, International Passports, Drivers Licence, Utility Bills as well as a Selfie Image.
As a bounty hunter, I understand that cryptocurrency projects need to act in compliance with the government's financial policies where they use as their base of operations. Part of these financial policies usually require the implementation of KYC/AML processes for the investors who seek to purchase tokens or coins from ICOs or other token generation events. For investors to buy tokens they need to convert fiat to cryptocurrency and it is this main reason KYC checks come in to monitor and store data of investors participating in the sale as a move to control money laundering.
To this end, bounty hunters should have no business surrendering their personal documents since they receive tokens as payment for a service rendered and no transactions of fiat to cryptocurrency will be taking place on their part. In other words, hunters cannot be accused of money laundering.
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.
I personally believe that KYC should be done for no one apart from the people in charge of the ICO or project, what I mean is that KYC- know your CEO should be carried out by the main developers of the team so that they would be able to build trust for themselves. I don't see any reason why an investor is asked to pass through a KYC process why making purchase of a token or coin when the method used in making purchase of those token/coin is cryptocurrency and not fiat, KYC is so useless in this case.
Requiring KYC to bounties is a big tactics of ICO owners to steal tokens. Heres the scenario:
1.) You joined a bounty without knowing they will require a KYC later. And you do not have a passport or driver's license.
2.) You promoted the ICO twitter, facebook posts, and post on Bitcointalk in a timely manner. You created blog post for article postings.
3.) You got a high stakes for doing bounty on time.
4.) SNeaky bounty owners, requires KYC before coin distribution.
5.) You failed to submit kyc.
6.) All stakes allocated for you goes back to ICO owners.
1.) You joined a bounty without knowing they will require a KYC later. And you do not have a passport or driver's license.
2.) You promoted the ICO twitter, facebook posts, and post on Bitcointalk in a timely manner. You created blog post for article postings.
3.) You got a high stakes for doing bounty on time.
4.) SNeaky bounty owners, requires KYC before coin distribution.
5.) You failed to submit kyc.
6.) All stakes allocated for you goes back to ICO owners.
I completely agree with this. KYC shouldn't be a necessity when doing a bounty because first of all, we are not a customer but an agent that promotes their project. But at the end of the day, it really depends on the project owners. We have the freedom to do it or not. Like I do, if a project doesn't have enough credits but requires KYC, then it's a no for me.
Very well said and I couldn't disagree with those statements. I do hope project developers and investors can read these appeal of yours to enlighten them that we are just a bounty hunter and we should not be forced to submit KYC informations.
Though, i was really curious how AML involved such bounty hunter? I was thinking if it is because of the infos submitted by the bounty hunter that were used in illegal actions?
Though, i was really curious how AML involved such bounty hunter? I was thinking if it is because of the infos submitted by the bounty hunter that were used in illegal actions?
things like AML and KYC are more like a two way streets. they can not work in one direction anyways. and the whole idea is based on trust. you as a participant also have to be able to trust the person(s) whom you are giving your very personal information to. which by the way can be abused.
but unfortunately that "trust" does not exist at all because the ICOs are purely scam and shady at best case scenario which means AML and KYC should not even exist.
but unfortunately that "trust" does not exist at all because the ICOs are purely scam and shady at best case scenario which means AML and KYC should not even exist.
AML – Anti-Money Laundering
KYC – Know Your Customer
KYC and AML are terms used when a business or a project wants to identify and verify the identity of a client or customer. To verify identity, KYC checks may require an individual to submit copies of personal documents like National ID cards, International Passports, Drivers Licence, Utility Bills as well as a Selfie Image.
As a bounty hunter, I understand that cryptocurrency projects need to act in compliance with the government's financial policies where they use as their base of operations. Part of these financial policies usually require the implementation of KYC/AML processes for the investors who seek to purchase tokens or coins from ICOs or other token generation events. For investors to buy tokens they need to convert fiat to cryptocurrency and it is this main reason KYC checks come in to monitor and store data of investors participating in the sale as a move to control money laundering.
To this end, bounty hunters should have no business surrendering their personal documents since they receive tokens as payment for a service rendered and no transactions of fiat to cryptocurrency will be taking place on their part. In other words, hunters cannot be accused of money laundering.
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.
KYC – Know Your Customer
KYC and AML are terms used when a business or a project wants to identify and verify the identity of a client or customer. To verify identity, KYC checks may require an individual to submit copies of personal documents like National ID cards, International Passports, Drivers Licence, Utility Bills as well as a Selfie Image.
As a bounty hunter, I understand that cryptocurrency projects need to act in compliance with the government's financial policies where they use as their base of operations. Part of these financial policies usually require the implementation of KYC/AML processes for the investors who seek to purchase tokens or coins from ICOs or other token generation events. For investors to buy tokens they need to convert fiat to cryptocurrency and it is this main reason KYC checks come in to monitor and store data of investors participating in the sale as a move to control money laundering.
To this end, bounty hunters should have no business surrendering their personal documents since they receive tokens as payment for a service rendered and no transactions of fiat to cryptocurrency will be taking place on their part. In other words, hunters cannot be accused of money laundering.
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.
And I would like to add, some bounty hunters are only receiving very small shares from tokens allocation I received $10 worth of token only from my stakes, and they asked me for KYC which I decline since it's not worth it, it's only for people who invest thousands of dollars, not from who are getting a few dollars worth of token.
Totally agree with the op, i mean why requesting kyc from hunters when they actually have no direct connection to any crypto-fiat transaction that take place during the course of the project sale,
bounty hunters only should be rewarded for the work they rendered but surprisingly if you don't pass or provide kyc, you risk the chance of not getting paid, now tell me how much is been paid to hunters that such personal information needs to be presented!
I see it as an indirect way of gathering personal information from people without raising an eyebrow
i think from now on any bounty requesting for kyc is a no no for me, no matter how lucrative it might appear, i should learn to protect my personal information.
bounty hunters only should be rewarded for the work they rendered but surprisingly if you don't pass or provide kyc, you risk the chance of not getting paid, now tell me how much is been paid to hunters that such personal information needs to be presented!
I see it as an indirect way of gathering personal information from people without raising an eyebrow
i think from now on any bounty requesting for kyc is a no no for me, no matter how lucrative it might appear, i should learn to protect my personal information. 
a little extra KYC for bounty hunters is an obligation for participants to take part in the project. so that they can see our data, so there aren't many accounts for each participant, they also want to know how many countries participate in the projects they manage.
To say the least, I don't participate in bounties requiring a KYC from the beginning. What most of these bounties do is to smuggle in the KYC clause in the middle of the bounty and force hunters to activate it or lose their rewards. I have been trapped in this before and it was really painful because we were almost nearing the end of the bounty.
Why is it possible for others to send the bounty tokens without requiring them for KYC.
This just don't make sense to me, the devs are just trying to cheap the bounty hunters, or to delay the payment, or worse is to hold the payment.
Transparency has to be done at the very beginning, they are using this forum for their campaign, and I guess we need to report them to DT members for tagging.
This just don't make sense to me, the devs are just trying to cheap the bounty hunters, or to delay the payment, or worse is to hold the payment.
Transparency has to be done at the very beginning, they are using this forum for their campaign, and I guess we need to report them to DT members for tagging.
Hunters shouldn't really comply with KYC.
You did the job without any agreement and that's why crypto is all about freedom and privacy.
You did the job without any agreement and that's why crypto is all about freedom and privacy.
AML – Anti-Money Laundering
KYC – Know Your Customer
KYC and AML are terms used when a business or a project wants to identify and verify the identity of a client or customer. To verify identity, KYC checks may require an individual to submit copies of personal documents like National ID cards, International Passports, Drivers Licence, Utility Bills as well as a Selfie Image.
As a bounty hunter, I understand that cryptocurrency projects need to act in compliance with the government's financial policies where they use as their base of operations. Part of these financial policies usually require the implementation of KYC/AML processes for the investors who seek to purchase tokens or coins from ICOs or other token generation events. For investors to buy tokens they need to convert fiat to cryptocurrency and it is this main reason KYC checks come in to monitor and store data of investors participating in the sale as a move to control money laundering.
To this end, bounty hunters should have no business surrendering their personal documents since they receive tokens as payment for a service rendered and no transactions of fiat to cryptocurrency will be taking place on their part. In other words, hunters cannot be accused of money laundering.
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.
KYC – Know Your Customer
KYC and AML are terms used when a business or a project wants to identify and verify the identity of a client or customer. To verify identity, KYC checks may require an individual to submit copies of personal documents like National ID cards, International Passports, Drivers Licence, Utility Bills as well as a Selfie Image.
As a bounty hunter, I understand that cryptocurrency projects need to act in compliance with the government's financial policies where they use as their base of operations. Part of these financial policies usually require the implementation of KYC/AML processes for the investors who seek to purchase tokens or coins from ICOs or other token generation events. For investors to buy tokens they need to convert fiat to cryptocurrency and it is this main reason KYC checks come in to monitor and store data of investors participating in the sale as a move to control money laundering.
To this end, bounty hunters should have no business surrendering their personal documents since they receive tokens as payment for a service rendered and no transactions of fiat to cryptocurrency will be taking place on their part. In other words, hunters cannot be accused of money laundering.
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.
It is absurd that the projects that claim to be decentralized under normal conditions, may require KYC. How a decentralized project does work with KYC?
Very well explained. The context of KYC and AML has been an issued since then. Hunters aren't connected with it since no money has been given by the hunters during the campaign. But the taxes on the hunters arent missed? Of course if this some kind of work, then the fee or certain percentage should be deduct from it. Maybe its the purpose of KYC so later on, they can give us as tax list which sound hurting if we don't have funds to pay for it. Once we asked to do so since they have our details.
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