Why some ICO required KYC? - page 5.

rizkypurwati

newbie

Activity: 78

Merit: 0

Quote from: sirkings0003 on May 04, 2018, 05:51:52 AM

Quote from: malinda92 on May 04, 2018, 05:00:39 AM

Because after ICO Tokens Can be buy anyone without submitting any KYC Huh

Totally confusing this process Roll Eyes

KYC= Know Your Customer is one of the criteria signed by the ICO initiator companies during their registrations. Apart from the need to comply with the regulators, the companies need to stand clean before any jurisdiction. If the ICO is over, the whole burden of KYC is lifted off their shoulders and then to the exchanges.

This rule is useful to avoid bad things, in addition to preventing financial abuse KYC also ensure the security of investors. staying safe and comfortable in investing is mutually beneficial

sirkings0003

member

Activity: 252

Merit: 10

Telegram: https://t.me/ViolaAI

Quote from: malinda92 on May 04, 2018, 05:00:39 AM

Because after ICO Tokens Can be buy anyone without submitting any KYC Huh

Totally confusing this process Roll Eyes

KYC= Know Your Customer is one of the criteria signed by the ICO initiator companies during their registrations. Apart from the need to comply with the regulators, the companies need to stand clean before any jurisdiction. If the ICO is over, the whole burden of KYC is lifted off their shoulders and then to the exchanges.

cedrixperez

jr. member

Activity: 149

Merit: 1

Some reason is in preventing bounty hunters from multiple accounts they required KYC for legit accounts I hate passing KYC because i think this is risky thing how about if they use it in scamming and your identity they will be used and you don't know that you're will be punished by something that you didn't made.

Suharti12

member

Activity: 350

Merit: 10

I do not think KYC should be too useful, and maybe KYC just to make sure the identity or also to keep the double account from participating in their bounty.

malinda92

newbie

Activity: 8

Merit: 0

Quote from: Red-Apple on May 04, 2018, 05:21:11 AM

there are a lot of ways for making money one method is to steal other people's identity and documents and sell it on the dark market. these ICOs are currently gathering cryptocurrency users information and creating a database from them which then they will sell elsewhere and make some money from doing so.

Seriously ? Huh

So Most of people already lost their identity on the internet. this is really bad to hear Lips sealed

malinda92

newbie

Activity: 8

Merit: 0

Quote from: penig on May 04, 2018, 05:03:57 AM

It is because the parent companies need to show where they obtained their funds from and verify its not come from illegal activities. Once listed that burden technically shifts to the exchanges, or individuals to be responsible.

Really thankful to you for give me answer penig

another question; if we submitted to our identity via KYC process, is there have any risk to leak our personal details ? Huh

Red-Apple

hero member

Activity: 1470

Merit: 655

there are a lot of ways for making money one method is to steal other people's identity and documents and sell it on the dark market. these ICOs are currently gathering cryptocurrency users information and creating a database from them which then they will sell elsewhere and make some money from doing so.

penig

member

Activity: 266

Merit: 13

It is because the parent companies need to show where they obtained their funds from and verify its not come from illegal activities. Once listed that burden technically shifts to the exchanges, or individuals to be responsible.

malinda92

newbie

Activity: 8

Merit: 0

Because after ICO Tokens Can be buy anyone without submitting any KYC Huh

Totally confusing this process Roll Eyes

Topic: Why some ICO required KYC? - page 5. (Read 498 times)