Post
Topic
Board Bitcoin Discussion
Re: US Government becoming friendlier to bitcoin
by
figmentofmyass
on 06/02/2019, 05:23:44 UTC
Maybe after that, bounty hunters will no longer demand to undergo a KYC check.

the ICO's KYC has never had anything to do with regulations and laws. in all cases they were adding the KYC as a buzzword to fool people into thinking their useless token is better than other useless tokens just because the lie and convince you they are "regulated".

i wouldn't go that far. take a look at one of the memos the SEC published in 2017:
Quote
Second, brokers, dealers and other market participants that allow for payments in cryptocurrencies, allow customers to purchase cryptocurrencies on margin, or otherwise use cryptocurrencies to facilitate securities transactions should exercise particular caution, including ensuring that their cryptocurrency activities are not undermining their anti-money laundering and know-your-customer obligations.[7]  As I have stated previously, these market participants should treat payments and other transactions made in cryptocurrency as if cash were being handed from one party to the other.

they doubled down on previous assertions that issuing or brokering tokens for crypto triggers money transmission (AML/KYC) law. after the SEC made this very explicit, we saw lots more ICOs prohibiting investment from the USA.

some ICOs were run very conservatively, like blockstack. they mandated KYC and restricted investment to accredited investors out of an abundance of caution. based on the SEC's statements, they were wise to do so.