Post
Topic
Board Legal
Re: Are You Afraid of KYC?
by
STT
on 21/05/2018, 10:09:28 UTC
^^ I prefer that option where an established KYC processor is employed to verify and they have a standard to maintain while doing so.   Obviously many companies are new during an ICO and not ideally suited to the task
This becomes a real problem for me. Why should they be interested in my personal data at all? And what if I have many accounts?
They require personal data primarily to off set any worries on laundering or even criminal activity.  With the rise in BTC and ETH prices came larger interest from many sections of the normal economy including tax and revenue for governments.   Companies want to stay compliant with laws in countries they operate so theres that strong incentive for them.