What do you think about KYC?

[riberet19]

KYC or Know your Customer is something that has become very common in the crypto world supposedly due to the amount of money that is supposedly laundered with cryptocurrencies, but if we look at the data this amount is negligible compared to the amount of illegal money that is laundered with fiat, so I think KYC may be being used for other reasons within the crypto world, for example, to end decentralization, what do you think about KYC? Do you feel comfortable completing it?

 

[Kross]

I really don't have any problems completing KYC as long as it would give us a better financial environment in the crypto industry.

 

[Nomad]

I have no problem with KYC because my aim of using crypto is not to avoid tax

 

[Stardom22]

The KYC verification process sometimes becomes very annoying. For me l hate that so much and l would choose programs that doesn't consider that one for rendering their services.

 

[King Belieal]

I have done KYC verification on only two crypto exchanges. Binance is one of them. Those two exchanges are very trustworthy not to sell my data. People should be careful on exchanges they do KYC on.

 

[Suba]

KYC is a government regulation that users must comply with, primarily to prevent terrorist financing, AML, fraud, and other activities. Currently, almost all countries implement KYC regulations for all financial services, so users have no choice but to comply.

 

[eLdavis]

I think the KYC procedure is necessary, this would help prevent certain criminal activities from taking place.