Quote from: entrepmind23 on July 12, 2018, 01:27:06 AM

Quote from: indayburakday012 on July 11, 2018, 08:09:52 AM

As we all know that one thing that might hinder the acceptance of the bitcoin system for the government is the hidden identity of the members. Local exchange should do intensified KYC so as to avoid the system of cryptocurrency being abused by other members as well like money laundering, funding of terrorist groups and others as well. Some of the country had done this things already and the question is would favor to do KYC on your local exchange?

I have no choice but to comply because I need some funds from time to time and I use what I earn from the forum to pay for my expenses and the fastest and safe way for me to do that is to submit the needed documents for KYC so that I can fund or withdraw from the platform. I have no problems even if the local exchange knew who am I because I am not doing something illegal. They are doing it anyway to comply with the requirements with the government as well since they are licensed by it so they wanted to protect their company for possible case of money laundering and other illegal activities.

Quote from: jaocoincrypto18 on July 11, 2018, 11:53:14 AM

Here in our country we have already required to submit valid ID's, Government certificates and other data to our local exchanges to ensure that we are legit persons. Years have past but there is no single complain that a persons data was used or was stolen by other people thru our local exchanges therefore i conclude that our personal data are safe with them so i think there is no problem if a KYC will be applied in every local exchanges as long as it will required by the regulation as per policy of the government.

As long as my data is protected then I have no problems with submitting my documents. I am confident any way that they would keep it confidential and if ever they do something for their own interest then the people will just go to the company. The only thing that worries me when it comes to KYC is submitting it in a bounty or airdrop because we don't know that people if ever they are really using it just for verification purposes.

I really agree with you, and so far the local exchange keeps the KYC identity that we have filled in and this is one of the rules so that we can do transactions and can see the truth of citizenship identity so that when something happens they can track our whereabouts, which is very on the concern is aidrop and bounty that still require KYC