Why Bounty Hunters Should Be Exempted from KYC/AML Procedures

[kakade]

KYC is actually used for bounty hunters because there is a lot of cheating done by bounty hunters. And until now KYC can indeed reduce fraud so that many use procedures. I don't think KYC will be a problem and all your decisions are yours.

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[Kang Bahar]

To the point, I hate the KYC procedures! I prefer to passed it, refused it and against the KYC procedures!

Requiring KYC to bounties is a big tactics of ICO owners to steal tokens. Heres the scenario:

1.) You joined a bounty without knowing they will require a KYC later. And you do not have a passport or driver's license.
2.) You promoted the ICO twitter, facebook posts, and post on Bitcointalk in a timely manner.   You created blog post for article postings.
3.) You got a high stakes for doing bounty on time.
4.) SNeaky bounty owners, requires KYC before coin distribution.
5.) You failed to submit kyc.
6.) All stakes allocated for you goes back to ICO owners.

Oops. It seems you are wrong. AFAIK, the policy of the allocation for the bounty program will be/always returned to the team. Of course, that's aren't the way to steal a token from the participants who failed to submit KYC. CMIIW.

[r_delossa]

It is a matter of several minutes to do a KYC. Whenever they have announced it, people do not want to go through them not because of their principles, but because they have took part with 5 accounts and want all the money.

[indoagung88]

Not all bounty participants are released from the Know Your Customer (KYC) procedure. I have participated in a project that requires me to fill in my identity data including the Passport. Actually it's a good thing, as long as it is used for mutual interests. So I think it's a positive thing and needs to be supported. No problem.

[mrdeposit]

KYC is actually used for bounty hunters because there is a lot of cheating done by bounty hunters. And until now KYC can indeed reduce fraud so that many use procedures. I don't think KYC will be a problem and all your decisions are yours.

Cheating is not problem for scam projects which want to collect bounty hunter's personal details for preventing the fraud. I don't simply accept this fact and scam projects sell our documents on deep web for dirty cheap prices.

[pinoycash]

KYC is actually used for bounty hunters because there is a lot of cheating done by bounty hunters. And until now KYC can indeed reduce fraud so that many use procedures. I don't think KYC will be a problem and all your decisions are yours.

KYC will not fix the cheating problem its the job of the campaign manager to check for cheaters on his campaign. Asking for KYC is absurd and should avoided.

KYC policy for Bounty hunters should be announce before the bounty starts not in the middle or after the bounty. This is the common trick of ICO projects to lessen their bounty payments liability.

[restuibu]

fully I agree with you (bounty hunter is not obliged to do KYC) but for other reasons we cannot deny the rules given by team, otherwise we will not get payment from our work while supporting project

[BlueStackz]

Our point is very valid logically, but system wise it will give the company more stress doing so because most purchases done requires participant to register on the website of the project and in programming, they have to instruct the site to request for a details which part of it is KYC/AML and they use this same form for everyone making use of the site, whether bounty hunter or investor.

If they are to start separating bounty hunters, fine, programmers can do it by leaving an option for the person to choose either if he is an investor or hunter, what If someone who wants to use the system to launder money comes in to register as a hunter? That would have defeated the objective of the KYC.

[serjent05]

True but bounty managers and developers want it the easy way so they pass the inconvenience to the shoulder of the bounty hunters. If they hire an escrow to pass payment to bounty hunters it will be additional expenses for them and another inconvenience too so they give less regard to bounty hunters since bounty hunters must obey the rules they imposed in order for them to receive payment for their service. Most of the time bounty managers do not mention KYC to bounty hunters, it is just before payment distribution they are announcing it so bounty hunters are left with no choice but to obey in order to get payment.

[bitgolden]

Hunters shouldn't really comply with KYC.
You did the job without any agreement and that's why crypto is all about freedom and privacy.

I agree with you, they should create a system that will exempt bounty hunters from KYC and also remove the any necessary tools that is applicable to investors from investors platform because KYC is really not important for hunters since they are not making any deposit or whatsoever.

I don’t think there is any hunter that can also get a reward that will be so alarming. This act of theirs are just ways of frustrating we hunters which will also not be good for their project because we might decide not to work for them too, they might think we can do without it, we can also afford to buy the little coin we can buy from any project, we are not competing with anyone.

[Indrawan77]

I agree, infact bounty hunters and investors shouldn't be required any kyc, I afraid some site will misuse the identity from the investors and used it for identity theft, the reason for kyc bounty hunter is not for money laundering but to prevent cheating, but I still think crypto should be free from kyc no matter what is the reason, the developers should find other way to prevent cheating

[senin]

KYC is actually used for bounty hunters because there is a lot of cheating done by bounty hunters. And until now KYC can indeed reduce fraud so that many use procedures. I don't think KYC will be a problem and all your decisions are yours.

Bounty hunters in ICO projects do not commit fraud at all and cannot commit it. Bounty hunters earn their tokens, but those who do not fulfill their duties and do not write quality messages and do not advertise ICO projects, do not earn steaks and do not receive tokens. If bounty hunters use multiple accounts, this is a violation of the rules of this forum and for the ICO team does not matter. Therefore, we should not undergo any KYC checks. It should be carried out only for the prevention of money laundering and the fight against the financing of terrorism. Applying a KYC check for another purpose is a violation of the human right to the confidentiality of a person and abuse of their rights by the ICO team.

[Distinctin]

I agree, infact bounty hunters and investors shouldn't be required any kyc, I afraid some site will misuse the identity from the investors and used it for identity theft, the reason for kyc bounty hunter is not for money laundering but to prevent cheating, but I still think crypto should be free from kyc no matter what is the reason, the developers should find other way to prevent cheating

Investors are required to follow the KYC requirement, if it's part of the requirement, they will have to follow it before they can own a coin or token.
However, like OP said, bounty hunters should be exempted, we did not risk money to own a coin, we work for it, and therefore we should receive the reward with ease.

[ccsang]

The reason is simple

KYC Procedure is just to prevent a cheater from a bounty, many bounty hunters try to join with multiple accounts to get a higher reward. Imagine if there are legit bounty that requires a maximum of 100 people to join but there are one people joining with 10 accounts, he/she stealing people opportunity to join this bounty and acquire another people bounty reward for him/herself...

I agree with your opinion, KYC is effective prevention cheater receive the bounty rewards, but currently most of the campaign required kyc, even if airdrop also like that, too hard to identify which one is real or scam our documents.

they should employ the services of a verified 3rd party escrow agent who can distribute tokens to bounty hunters

I don't think they will accept this suggestion.

[fortelen]

KYC for bounty hunters because there are so many people who commit fraud. So they use KYC to reduce or eliminate fraud. And every policy makes perfect sense if you get rejection and complaints.

[eternalgloom]

Not going to happen, these projects are already operating in a legal gray area, so they're going to protect themselves as good as possible by making everyone enter their KYC data.
If you don't like it, you just don't join. It's as simple as that...

Besides, is it really worth it to have your personal documents floating around on the internet for a couple of measly dollars worth of tokens?
I can almost guarantee you that your documents are already for sale on some TOR marketplace, if you're just sending them to any project that offers to pay you.

[kkaroul4]

KYC is actually used for bounty hunters because there is a lot of cheating done by bounty hunters. And until now KYC can indeed reduce fraud so that many use procedures. I don't think KYC will be a problem and all your decisions are yours.

right from yesterday there were many bounty hunters who cheated like increasing accounts so the results he got were bigger and bigger, so KYC if I didn't think it was a problem for me

[proTECH77]

In a real world, different jobs with its own terms and conditions, which also imply to the digital world. Most of these ICOs are projects sponsored by companies or individuals which also have their terms and conditions, so, interested participants on these projects should ensure to read through their terms and conditions(requirements)  before apply to be part of the advertisement. Personally, i hate Bounty because of many dead coins in my wallet.  

[masterrex]

AML – Anti-Money Laundering
KYC – Know Your Customer

KYC and AML are terms used when a business or a project wants to identify and verify the identity of a client or customer. To verify identity, KYC checks may require an individual to submit copies of personal documents like National ID cards, International Passports, Drivers Licence, Utility Bills as well as a Selfie Image.

As a bounty hunter, I understand that cryptocurrency projects need to act in compliance with the government's financial policies where they use as their base of operations. Part of these financial policies usually require the implementation of KYC/AML processes for the investors who seek to purchase tokens or coins from ICOs or other token generation events. For investors to buy tokens they need to convert fiat to cryptocurrency and it is this main reason KYC checks come in to monitor and store data of investors participating in the sale as a move to control money laundering.

To this end, bounty hunters should have no business surrendering their personal documents since they receive tokens as payment for a service rendered and no transactions of fiat to cryptocurrency will be taking place on their part. In other words, hunters cannot be accused of money laundering.

If sending tokens directly to hunters will contravene the laws of the project's locality, then they should employ the services of a verified 3rd party escrow agent who can distribute tokens to bounty hunters at specified due date or just take the easy way out and pay hunters in another cryptocurrency like ETH or BTC.

This is just my personal opinion. Feel free to add your comments and suggestions.

For me its good idea, since bounty participants are not using fiat currency technically to include in AML/KYC guidelines, but the decision was still controlled by the platform who runs the Bounty campaigns if they wants to left the KYC requirements for the bounty participants, the least bounty hunters can do is avoid joining bounty campaigns that required KYC if they are not able to accomplished the needed requirements.

[yobo2020]

I agree with you, even though kyc is to be done by the bounty hunters this should be done before he participate in the campaign not after the the bounty hunters have finish the work that you will giving excuse that he/she didn't pass kyc moreover bounty hunters are not customers the are promoter.