KYC with there problem

[Bunk67]

why will they be asking for someone passports and picture what that for i think they should request for another thing

[Noobaru]

This is because of anti-money laundering laws and anti terrorist financing laws. It mostly happens with investors, they need to know who is investing with them to be sure and to comply to the laws. As far as bounties are concerned, right now I see more and more of them demanding our documents.

[so_stupid]

basically they require it in order to get rid of multi-accounts. If they require another selfie with a passport, then the fakes will be precisely identified

[macshad]

why will they be asking for someone passports and picture what that for i think they should request for another thing

Its just really all weird to me because i dont know why so nuch stress for so low token  but i guess we dont have a choice but to complie with the rules

[Cryptodrees]

The idea of KYC by any project administration to me I would say the idea is a good one.Because provision of any means of identification would assist the administrator to get rid of some irregularities being carried by some clients.basically they require it in order to get rid of multi-accounts. If they require another selfie with a passport, then the fakes will be precisely identified with ease.

[Enyi001]

The fact remains that, KYC makes the developers have proper details of their participants. Such developers might have undergone SEC registeration, the more reason they need KYC to comply. But personally I hate it especially when restricted to just E-Passport. The stress is some KYCs has made me hate the whole process.

[TravelMug]

why will they be asking for someone passports and picture what that for i think they should request for another thing

If you are talking about bounties, they are requiring KYC to prevent multiple accounts joining a campaign. As for trading exchanges, they need it because they have to follow the strict KYC/AML protocol which is universal I think. This is a way what they call regulations. I don't see any issues if this is for trading exchanges. because if you don't comply then it will be very difficult to withdraw specially if it involves big amount.

What I don't like it though is bounties asking for it, because there was one ICO KYC leakage. And once its proliferated in the dark market, I'm sure that criminals will exploit them for their illegal activity and purpose. So just beware about submitting it in exchange for a few dollars.

[robelneo]

This is because of anti-money laundering laws and anti terrorist financing laws. It mostly happens with investors, they need to know who is investing with them to be sure and to comply to the laws. As far as bounties are concerned, right now I see more and more of them demanding our documents.

I don't know why they will also demand this to bounty hunters since they are not direct investors to their project and just promoters of this Ico, there's an accompanying risk both for bounty hunters and investors giving them your credentials because some of these Ico are not even registered or compliant to SEC or government rules where they operate.

[Philip Ruby]

KYC has really gotten out of control these days. The aim of it is to avoid money laundering and it is crazy when you are trying to buy an investment fund. It is already crazy with buying tokens as well, you need to send you ID, some require holographic documents. Sometimes you miss out on a good project because your country does not have a holographic document.

[Geleve]

why will they be asking for someone passports and picture what that for i think they should request for another thing

it is really ridiculous thing to ask for passport details. we have all witnessed many times that personal informations of ico participants were leaked or sold in dark web before. so i dont trust any project and i wont send my personal details.

[ElevenX]

That's why I don't touch ICO, I just rather wait until they go on an exchange. It's hard enough worrying about whether you're being scammed, but now giving out your personal details?

[Full]

I believe that KYC is good. If the project conducts it, it is important for him not to violate the laws, which means that the developers of this project at least want everything to be legal and they do not care about the project. In general, of course it would be good if there was an additional service in which you could pass KYC once and everything. Next projects that require KYC to provide information that KYC is passed. And then every project to send passport data is not very desirable.

[Samum]

This is just another level of safety for the project. Dispatch of multi-accounts. Many are asking for confirmation of the region. In a number of projects, you can not participate in the US or Filipin, etc. Of course, the issue with KYC can be circumvented. Only a few will do it. It's easier to choose a project without such a test