Post
Topic
Board Altcoin Discussion
Re: Do I need KYC for generosity?
by
Nwankwobtt
on 23/02/2019, 15:00:26 UTC
Recently, more and more arguments have arisen that ICO generosity campaign participants really need to be tested by KYC in order for ICO teams to provide information that their tokens are distributed to specific people. In my opinion, this generally sounds like something stupid. Who and why should the ICO team provide such data? Tokens are not much different from any other product, and stating that merchants need to know who they are selling is stupid.
You welcome the situation when we go into the store and in order to purchase any product and we will be asked to first fill out a special form with your confidential data? Do you think that this is different from the situation with cryptocurrency?

I sincerely do not go with that premise. Kyc(know your customer) was introduced as an AML(Anti money laundering) law requirement of specific countries to ascertain the financial spendings of an individual and to monitor appropriately