Did you even understand what you wrote, OP ?
Banks do not make money from KYC, it is necessary by law to know your customer, got all the information about their identity and possibly more. In my country it has come to much more than simple id checks , they ask proof of any transactions in your bank account, this is too much in my view.
Banks do not make money from KYC, it is necessary by law to know your customer, got all the information about their identity and possibly more. In my country it has come to much more than simple id checks , they ask proof of any transactions in your bank account, this is too much in my view.
By law? That's a good one.
Who makes laws? The governments.
Who owns central banks? The governments.
Who decides whether to bail out banks or not? The governments.
Who profits if you take credit in their central bank? The governments.
Who loses if instead of holding their fiat money you decide to store wealth in bitcoin? You should know the answer by now
Well, absolutely I agreed all the explanation as you stated in the above Sir. All are correct, now if anyone here in crypto
space they should know that there are other project campaign requiring their investors to submit KYC, though they are not bank. Meaning, from the Government-----Private Company------YOU(holder, Capitalist, Investors) the cycle is like this now.