Post
Topic
Board Beginners & Help
Re: I am not fan of KYC
by
BitImpact
on 23/09/2018, 04:28:46 UTC
I doubt anyone is a fan of KYC here. It justs defeats the entire purpose of using blockchain: anonymity.

Back in 2017, ICOs & exchanges do not require KYC. However, things are different now. In order to comply with AML laws in different jurisdictions, KYC is needed. This is so that if any signs of money laundering are found out, they can identify who is behind the address, and can take proper legal action.