Topic: Why KYC needed for ICO ? - page 4. (Read 545 times)
KYC must be verify because founders nationality requires this. For example, USA and China can't participate in many ICO without KYC.
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https://qz.com/460482/heres-what-your-stolen-identity-goes-for-on-the-internets-black-market/
https://qz.com/460482/heres-what-your-stolen-identity-goes-for-on-the-internets-black-market/
KYC is a must for ICO issuers in the USA. This is to prevent money laundering, enforcing sanctions on entities/individuals, or to prevent violation of SEC (Securities Exchange Commission) laws which dictate that you cannot sell a security (ICO token) to non accredited investors. Accredited investors are:
1) Individuals with a net worth of 1 million dollars or more.
2) Individuals with an income of at least 200k for the past 2 years and reasonably expect to make the same during the same year.
2) A couple with an income of at least 300k for the past 2 years and reasonably expect to make the same during the same year.
1) Individuals with a net worth of 1 million dollars or more.
2) Individuals with an income of at least 200k for the past 2 years and reasonably expect to make the same during the same year.
2) A couple with an income of at least 300k for the past 2 years and reasonably expect to make the same during the same year.
Initial coin offering has been quickly emerging as the new fund-raising method being used for launching a business. Recently we have seen the requirements of KYC for ICOs are increasing. And many investors are not supporting it. I want to know why exactly do ICOs need the requirements of KYC.
There are countries that are strictly requiring KYC for every crypto transactions and there are that are not. Sad to say that some developers are using it as an excuse not to pay the investors or the bounty participants who cant provide the necessary requirements while some claim that it is to avoid money laundering.
I think, firstly, it is the identification of the investor. Secondly, the screening of scammers. And in the third you can make statistics by region
For me in general it is strange when the company demands nothing either the document, or a name from the investor. It means that the coin after ICO won't get on the good exchanges like Binance and Kucoin) So I consider KYC existence huge plus in carrying out ICO and it causes bigger trust to the company in me.
To confirm the identity of the person who receives the money. It's like paying emigrants, in some countries it is forbidden to hire immigrants. And in this case, in some countries it is forbidden to have a cryptocurrency.
KYC or let we say know your customer is a procedure that some or most of ICO needed.
this is not for the benefit of the doubt of the team.
but htey just want to legalize every matter for the investors.
they just need to make sure that some citizen of countries will not be able to join them.
this is all about the law.
this is not for the benefit of the doubt of the team.
but htey just want to legalize every matter for the investors.
they just need to make sure that some citizen of countries will not be able to join them.
this is all about the law.
As for in the near future, probably, all participants of the crypto market will be verified. But it will contract all the principles of the blockchain(( 
Initial coin offering has been quickly emerging as the new fund-raising method being used for launching a business. Recently we have seen the requirements of KYC for ICOs are increasing. And many investors are not supporting it. I want to know why exactly do ICOs need the requirements of KYC.
Just some countries prohibit cryptocurrency. And if the state finds out that some project has given our citizen a cryptocurrency, the project will have very big problems. 
Well most of ICO lately is requiring KYC to know their customers, it is necessary to avoid money laundering so it is legally advised. Also to know whether the investor is real. There are some cases that once's country is prohibited to join that ICO so KYC is required to know whether they came from that country or no.
1. Cryptocurrency exchanges are beginning to exclude cryptocurrencies that did not properly implement KYC processes. Thus, not running such checks poses a long-term risk to a project.
2. Further, if an ICO can demonstrate proper KYC then it will be possible for all parties to establish credibility with banks and follow Anti-Money Laundering regulations.
3. Voluntary KYC compliance may help ICOs reach a larger global audience and expand the number of jurisdictions in which they can take place. Such compliance allows easier reach to investors in America, Britain, Canada and elsewhere.
2. Further, if an ICO can demonstrate proper KYC then it will be possible for all parties to establish credibility with banks and follow Anti-Money Laundering regulations.
3. Voluntary KYC compliance may help ICOs reach a larger global audience and expand the number of jurisdictions in which they can take place. Such compliance allows easier reach to investors in America, Britain, Canada and elsewhere.
KYC stands for ‘Know Your Customer’ and it’s a process that allows us to be sure individuals are who they say they are. Aside from being good practice, this also means the company can be sure that people are not participating in more than one account to get around the individual cap placed on the crowdsale to promote fairness.
First of all, the main purpose of KYC is to prevent money laundering, and fund raising of criminal act. Thats why KYC is related with AML (Anti Money Laundering) policy. A company or project, should validate their investor, and make sure that their investor is a real human and the money used to buy their ICO is clean.
I'm most cases KYC is needed in ICOs to prevent money laundry and secondly to prevent some certain countries from participating in the ICO
Initial coin offering has been quickly emerging as the new fund-raising method being used for launching a business. Recently we have seen the requirements of KYC for ICOs are increasing. And many investors are not supporting it. I want to know why exactly do ICOs need the requirements of KYC.
In order to exclude citizens from the list of sanctions countries or countries where strict regulation of cripto (USA, China). And some exchanges require for listing. full member
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KYC for bounties is good only for detecting multi-accounting abusers, but that is all, I think there should be another way how to fight with these fraudsters..
I think it is necessary to avoid money laundry.
That's simply, because a country where ICO is held, demands them to comply with their AML and anti-terrorist laws as well as international ones. Also, this is proof that you are not living in USA, China or somewhere else where participation in ICOs is strictly forbidden.
Know Your Customer (KYC) is needed for ICO because it make the owners of a particular project to know it's customers very well. It prevents frauds to some extent
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