Quote from: Rebyuwer on May 18, 2018, 11:33:20 PM

Quote from: santiPOGI on May 18, 2018, 10:23:23 AM

Quote from: Gracechen17 on May 18, 2018, 10:20:52 AM

Quote from: Dannaey on May 17, 2018, 08:48:15 PM

I understand the convenience of being able to convert right away your coins/tokens into cash. But since you are being connected to fiat money. government rules and regulations should apply. To be fully operational, each government in every country needs KYC for every customer. So if you are going to be KYC free, then I doubt that the government will allow you to proceed with your project.

There might be KYC i think with CryptoRiya as a user im not sure with it but it is impossible to require kyf in every transactions. When we withdraw cash from our ATM card there is no such hassle of kyc. When we pay with debit card in malls or restaurant we are not being asked with any question, we just give the card and they give us the reciept back.

A KYC ( KNOW YOUR CUSTOMER ) is a must with this!
they will be dealing with cards and transactions. this will not be legal if there will be no proper documentation before releasing those cards.
purchasing and others will not have an identity, receipts are important to have too.

I am still reviewing the Whitepaper so that I can understand carefully why KYC is not required. What are their reasons why they don't require it? What are the advantages and disadvantages of having no KYC? And most of all, if it will be widely accepted by the whole world because I believe that this project will be implemented worldwide in the near future.

Existing laws don't really require KYCs with regards to cryptocurrencies, banks do. We don't need to provide information to them but if we are to transfer our crypto to a bank account, we need to fill out that part. For the card, they will be issued by visa or mastercard through their partner banks I think.