Post
Topic
Board Economics
Re: Know Your Customer
by
Spaffin
on 08/05/2019, 05:08:03 UTC
KYC is done by most projects to comply to the government regulations. The projects are sometimes held accountable for transactions hence must be able to provide the identities of the individuals behind these transactions in order to avoid the issue of money laundering. KYC is also for verification purposes by the project in order to eliminate bot and double entries from participants.
You yourself contradict your own statement that a KYC check should be carried out to prevent cases of money laundering. For what, then, KYC is checked against ICO bounty campaign participants, if they cannot be suspected of laundering dirty money, because they do not invest their money in ICO projects. You also write that the KYC check is carried out in accordance with the requirements of the laws of some states. In this forum, I have not met anyone to refer to such laws. Above all, laws that oblige bounty hunters to be tested by KYC. Can anyone call them? I am sure that such laws do not exist.