Quote from: Nivia1st on November 03, 2019, 03:18:08 PM

Quote from: Absolutep on November 02, 2019, 12:23:45 PM

It is really bad the way we are going about KYC in the crypto sphere these days. Every little thing, kyc is been require which is not supposed to be so. It can be very annoying seeing an airdrop of $1 asking for kyc, i actually don't blame them but i blammed those taking part in it.

1$ only for KYC data, are you kidding me?
it's not comparable, KYC data is very important even they could use it for something illegal. and people easily provide that data only for tokens worth 1$.

I don't think this is a wrong rule, but those who easily provide KYC data that have to be questioned. KYC is good for accelerating adoption because KYC is one part of the prevention of anti-money laundering. if everyone agrees with this maybe the government can more soften and legalize crypto completely.

As difficult as it may seem to believe that some people will give up their KYC information for only one dollar that is the truth, once they reveal their information to one of those bounties then it becomes easier to do it for the next one, and if their information ends up in the hand of scammers if they have done this several times then it is likely their information was out there already anyway.

I understand the need of KYC but only in the case of people moving huge amounts of money but now governments want to apply KYC policies to everyone making even a transaction of a few cents and that is something I do not agree with.