Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: TomPluz on November 09, 2021, 05:51:41 AM
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We know that there are new projects requiring their investors, users and even bounty hunters to undergo some form of KYC presumably so they can be following the laws or regulations where they are based at. However, some are not doing the same thing to themselves. I think that it is only fair that team members or the people manning the project should be doing a KYC under a third-party verifying platform.
Lately, I am seeing some new projects that are doing this and in my view this should be the norm so that investors can have a higher level of trust and confidence...though of course this will never guarantee that the project will be a success and that it will not fail or just evaporate.
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At present, the way people are looking at the forum, it is seen that many people are using multi-account. It has been seen that sometimes these multi-accounts they work on the project with multiple accounts.If KYC system is provided in each project then there will be problem of running multi-account from forum.And they will stop multi-accounting.
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I agree that if we make sure that each user is verified, then this will solve the problem with multi-accounts. But while looking at COINLIST it doesn't help.
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This would be fair to Bountist, it's just that now there are a very large number of projects that, having taken possession of certain documents, sell them to third-party organizations. We need to be somehow protected from this.
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All the projects in the current market are quite good. The owners of the project must be verified. They must be verified by various internationally recognized organizations.
They obviously verified by Cetrick team management.
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I guess that would be fair to us not just only for investors but the team as well. Yes there is no guarantee that the project will be 100% success but there is high chances that the project will successful.
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please do as much as possible to avoid most projects and bounties that required your KYC. they are sellouts. they might sell your information and they will make money from it. please be careful. many are interested in collecting peoples data and selling it to a third party. be careful on who and which platform to perform your KYC to avoid loosing your vital information. apart from some exchanges. i will not provide my information to bounty campaigns.
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KYC is for the record but not all of them are legitimately as what it should be as KYC "Know Your Costumer." You know sometimes the unfair part of KYC is being compulsory for investors/hunters but their team is unknown.
How's that possible?
So unfair system for community. Already encountered many times this kind of unfair KYC system. Of course I didn't participated coz why I should if they themselves aren't true to their own created system.
Without KYC, we are at risk. How much more with KYC.
Btw, there are few reliable project to trust with regards to KYC.
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I agree with you. Many scamer and bot enterd in crypto project. User control it. If i say on nft project. Which are getting free nft and paid nft. We are not getting Mint it. Because of bot user all are collected. If kyc sytem on before mint. Thay are easyly caught.
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We know that there are new projects requiring their investors, users and even bounty hunters to undergo some form of KYC presumably so they can be following the laws or regulations where they are based at. However, some are not doing the same thing to themselves. I think that it is only fair that team members or the people manning the project should be doing a KYC under a third-party verifying platform.
Lately, I am seeing some new projects that are doing this and in my view this should be the norm so that investors can have a higher level of trust and confidence...though of course this will never guarantee that the project will be a success and that it will not fail or just evaporate.
I think this KYC is necessary because that won't be fair if few people get all the token by doing tricky things. It sales should be fair for everyone. This also valid for bounty campaign because there are many people that using multiple account for participating in a campaign. For preventing any market manipulation this is necessary.
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Thats should be mandatory, to protect the investors, I think Binance is doing that already that's why they are more secure compare to other so-called IEO launchpads in terms of investment, But before you can invest in Binance you should be lucky enough because it is done in a lottery system so its more on luck. I tried in the previous IEO but Im not lucky enough to be chosen.
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Its a good suggestion but who would bell the cat, so to say. Crypto space is more or less unregulated, so who is going to enforce this? Definitely not you or anyone on this platform. So let's hole and see
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We know that there are new projects requiring their investors, users and even bounty hunters to undergo some form of KYC presumably so they can be following the laws or regulations where they are based at. However, some are not doing the same thing to themselves. I think that it is only fair that team members or the people manning the project should be doing a KYC under a third-party verifying platform.
Lately, I am seeing some new projects that are doing this and in my view this should be the norm so that investors can have a higher level of trust and confidence...though of course this will never guarantee that the project will be a success and that it will not fail or just evaporate.
KYC, I think It's good for investors. If the bounty campaign will use KYC, maybe I don't want to join if their projects don't legitimate.
we must learn White paper and road map their projects, of course see the man behind the project.
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According to the FATF recommendations of June 21, 2019, which are mandatory for more than 200 participating countries, a KYC check can only be carried out for the purpose of preventing money laundering or combating the financing of terrorism and only if the transaction amount exceeds one thousand euros. There are no other regulations regarding the conduct of KYC.
Bounty hunters cannot be suspected of laundering dirty money or financing terrorists, since they do not invest their money when participating in bounty projects. Consequently, it is completely illegal for bounty hunters to require bounty hunters to complete KYC.
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Demanding that Cryptocurrency project owners should undergo a process of Verification by doing KYC is a good idea but there's a problem here, what if the project team supplies wrong informations about them because some scamming project team supplies pictures with wrong identity, I think is also a good suggestion for them to be verified also like investors and bounty Hunter's.
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Demanding that Cryptocurrency project owners should undergo a process of Verification by doing KYC is a good idea but there's a problem here, what if the project team supplies wrong informations about them because some scamming project team supplies pictures with wrong identity, I think is also a good suggestion for them to be verified also like investors and bounty Hunter's.
KYC is good to protect for scammers and Multy account.
But If the team project is legitimate , not scammers I will share my ID for KYC.
But maybe several member here didn't to do KYC
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I completely agree that all team members of each cryptocurrency company must undergo KYC so that investors can check the real data of the developers of each cryptocurrency company, but unfortunately, a lot of cryptocurrency companies and their team members not do KYC, and also many cryptocurrency companies teams are anonymous and its very dangerous sign for investors.
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I completely agree that all team members of each cryptocurrency company must undergo KYC so that investors can check the real data of the developers of each cryptocurrency company, but unfortunately, a lot of cryptocurrency companies and their team members not do KYC, and also many cryptocurrency companies teams are anonymous and its very dangerous sign for investors.
If Investors must undergo KYC, I also agree.
It will reduce the project scammers, because we all see too many scam projects. But I think It depends on the rules of developer
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please do as much as possible to avoid most projects and bounties that required your KYC. they are sellouts. they might sell your information and they will make money from it. please be careful. many are interested in collecting peoples data and selling it to a third party. be careful on who and which platform to perform your KYC to avoid loosing your vital information. apart from some exchanges. i will not provide my information to bounty campaigns.
True that and I am in total support of this but the problem most times is that, the Bounty projects will not announce this at the beginning of the bounty but until it is done and they will now come up with hunters should do KYC if they want to collect their earnings which are very bad.
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I completely agree that all team members of each cryptocurrency company must undergo KYC so that investors can check the real data of the developers of each cryptocurrency company, but unfortunately, a lot of cryptocurrency companies and their team members not do KYC, and also many cryptocurrency companies teams are anonymous and its very dangerous sign for investors.
All KYC checks can be faked. Especially in the event that the project team itself will also establish the conditions for such a check. No need to reinvent the wheel. New projects must be registered and undergo appropriate verification by the state authorities at the place of registration. There is nothing easier and more reliable than the usual verification of documents by the relevant government agencies.
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I completely agree that all team members of each cryptocurrency company must undergo KYC so that investors can check the real data of the developers of each cryptocurrency company, but unfortunately, a lot of cryptocurrency companies and their team members not do KYC, and also many cryptocurrency companies teams are anonymous and its very dangerous sign for investors.
All KYC checks can be faked. Especially in the event that the project team itself will also establish the conditions for such a check. No need to reinvent the wheel. New projects must be registered and undergo appropriate verification by the state authorities at the place of registration. There is nothing easier and more reliable than the usual verification of documents by the relevant government agencies.
I agree, I think crypto project teams should be KYCed, because there are many scammers be there.
Just create the new projects, raising funds then go.
It's really annoying.
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it's a good idea, If the project team must KYCed , to prevent scam projects.
Too easy to create and open the projects, I think It's the reason why there are many scam projects.
But , it depends on smart contract platform to arrange this
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If the whole team of the project is KYCed. It definitely increases the trust of the investors/traders to invest in the project and yes it does not mean a guarantee of the success of the project. The team should not be anonymous in any condition. Even though we all know many of them use fake IDs this is also a big challenge to identify the fakesters.
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I never consider projects with an anonymous team. On the contrary, future users should know what kind of people are at the helm, what kind of background they have.
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I never consider projects with an anonymous team. On the contrary, future users should know what kind of people are at the helm, what kind of background they have.
I think it's not easy to detect the team anonymous or not, because They will use fake ID.
I think I agree if team project KYCed , It's a good idea to reduce scam projects.
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good topic to comment here, I agree crypto project team should be KYCed.
Maybe the government should have regulations to connect smart contract platform to detect scammers.
Many scam projects there,
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This has always been the case, many projects ask for kyc when selling their tokens, regulators most likely do the rules, this is quite normal, and most of them treat this normally, if you want to buy coins, then please go through KYC.
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First,actually, this idea is good enough to decrease and eliminate decreased price.
But there are some notes.
Who will get their KYC?
Is there any platform that should realize this? Can we trust the KYC platform? Who will verified the KYC? This is exactly complex
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https://docs.pinksale.finance/important/kyc-and-audit-at-pinksale
Launch platforms like Pinksale I always use to find new projects, projects that run sales there are required to do KYC, but as I know, there is no guarantee that KYC can make projects successful, even projects like Bitgert and SHIB don't do KYC but they gain the trust of the community.
As for Bounties, I don't mind KYC, but some bounties are currently making payments on exchanges and that's great for avoiding scams.
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You can make money in alts but just remember it that most , I mean the vast majority are absolutely garbage with no future.
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As the OP has said, there is no guarantee the project will be successful when they do KYC, investors do KYC to qualify for trading and they are not part of a country that is prohibited by crypto regulations, like USA, crypto users from America are not can invest in crypto due to the regulations set by the government.
KYC is done by investors to gain access to exchanges or IEOs, it is done to avoid money laundering and I think that's good, but for new projects, I still have doubts about new projects that have done KYC, because the goal of KYC is not for project success.
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So who will verify their KYC? Is there any organization to do that? Actually, there is an IDO platform that is doing that for investors. Most of the IDO platforms do research about the team and the project for the investors. They are actually shorting investor's work for investing in a new project by doing these types of staff.
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We cannot force team members to conduct KYC, however, we can choose to participate in projects with fully transparent intelligence. Projects with anonymous teams will fail and disappear.
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So who will verify their KYC? Is there any organization to do that? Actually, there is an IDO platform that is doing that for investors. Most of the IDO platforms do research about the team and the project for the investors. They are actually shorting investor's work for investing in a new project by doing these types of staff.
It's difficult to happen, because I see there is no organizations or the rule about it.
But If the team project be KYCed, It's good thing.
I personally agree with this.
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I think it should be the default requirements in projects. It can help reduce crypto related scams like rug pulls and exit scams. But the problem is who going to enforce it? Unless we do it, nothing happens
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I think it should be the default requirements in projects. It can help reduce crypto related scams like rug pulls and exit scams. But the problem is who going to enforce it? Unless we do it, nothing happens
no one have power to enforce it, So it's the reason why there are too many scam projects.
I also agree if crypto project team should be KYCed, but I think It will never happen now.
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it's a good idea, if crypto project should be KYCed.
But Who will verify their KYC.
Because no regular that arrange this condition.
But, It will be thinked by the platform developers.
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I don't think It will happen, because we know crypto is anonymous.
I agree if crypto project team should be KYCed, that's good.
But It's really difficult to happen.
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I also think so. If a company is genuine, all of the members should go through KYC. As a result, promoters & investors will have a positive impressions towards the company. Also, the project would be than validated by the general public.
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I agree that having a governing body of sorts that vets new crypto projects would definitely be a plus, adding credibility to new coin/token offerings.. However, I don't know that there should be an obligation to go through that process, just as I don't believe that we as investors should be forced to go through KYC either.. After all, does anyone really know for sure who started bitcoin?
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Many people who start Crypto projects hide their identities for security reasons, so I think only one or two project teams will reveal their identities. Unlike the people who participated in the project, or the Bounty hunters. KYC is done to anticipate fraudulent treatment, with multiple accounts in one project. When it comes to Success or SCAM, it is a risk that we must face.
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The project team is simply protected from the fact that fewer bots would participate in their project, KYC is proof that real people are investing in this project. This is very good for the project and for investors.
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The project team is simply protected from the fact that fewer bots would participate in their project, KYC is proof that real people are investing in this project. This is very good for the project and for investors.
I think they can use other personal ID if they scammers.
Scammers always have many way to scam others.
But I agree, if crypto project team should be KYCed.
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The project team is simply protected from the fact that fewer bots would participate in their project, KYC is proof that real people are investing in this project. This is very good for the project and for investors.
There are whole farms of bots that go through thousands of KYC. Therefore, unfortunately, this is not a guarantee that a person is real.
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Who KYCed Satoshi Nakamoto? I think more important is to review or audit the code than to blindly trust some individuals.
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We know that there are new projects requiring their investors, users and even bounty hunters to undergo some form of KYC presumably so they can be following the laws or regulations where they are based at. However, some are not doing the same thing to themselves. I think that it is only fair that team members or the people manning the project should be doing a KYC under a third-party verifying platform.
Lately, I am seeing some new projects that are doing this and in my view this should be the norm so that investors can have a higher level of trust and confidence...though of course this will never guarantee that the project will be a success and that it will not fail or just evaporate.
I think It will never happen, because There isn't institution that will verify them.
But I believe It's a good idea, crypto project team should be KYCed
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Yep by seeing there are many scam projects, I think crypto project team should be KYCed to reduce scams.
But It might difficult to happen, because So easy to create project without KYC.
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This is quite legit and true, but who would do that? Who would bell the cat? It's an interesting proposition, in fact Rugdoc, a DeFi auditing upshoot does that exactly, but even at that not all projects comply, and its not even sureproof of hiccups as we can see from the EvoBridge/Valleyswap issue
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Yep by seeing there are many scam projects, I think crypto project team should be KYCed to reduce scams.
But It might difficult to happen, because So easy to create project without KYC.
I think this will be difficult to realize, the reason is as said by a friend above that there is no institution that regulates this. Or this can happen, if they want to give full confidence to potential investors.
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Yep by seeing there are many scam projects, I think crypto project team should be KYCed to reduce scams.
But It might difficult to happen, because So easy to create project without KYC.
I think this will be difficult to realize, the reason is as said by a friend above that there is no institution that regulates this. Or this can happen, if they want to give full confidence to potential investors.
Don't reinvent the wheel. Third-party platforms may also become interested and abuse the right granted to them to conduct verification against the new project team. This can only increase the problems.
The only effective solution to this issue may be the registration and necessary verification of the project team by the relevant state authorities at the location of such a team. If their identity card is examined and verified for authenticity, a copy of this document is taken, then the team will think before they cheat. In this case, law enforcement agencies can quickly find them.
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Yep by seeing there are many scam projects, I think crypto project team should be KYCed to reduce scams.
But It might difficult to happen, because So easy to create project without KYC.
I think this will be difficult to realize, the reason is as said by a friend above that there is no institution that regulates this. Or this can happen, if they want to give full confidence to potential investors.
I don't think anyone wants to do KYC that easily, especially when they really want to raise cryptocurrency funds for a project that ends up being a scam, making them more reluctant to do KYC. so stay careful when investing in the cryptocurrency world.
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You're right, I think scammers will never do KYC easily, they have other way to scam other.
We should be careful to invest and join in crypto projects.
Good luck.
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I think that it is only fair that team members or the people manning the project should be doing a KYC under a third-party verifying platform.
If this can be done then I will totally agree, at least if there is a rule like this then the SCAM project maker will be reduced.
Because before promoting their project they must verify their identity first, and a scammer will not do this because they will be afraid of being found.
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We know that there are new projects requiring their investors, users and even bounty hunters to undergo some form of KYC presumably so they can be following the laws or regulations where they are based at. However, some are not doing the same thing to themselves. I think that it is only fair that team members or the people manning the project should be doing a KYC under a third-party verifying platform.
Lately, I am seeing some new projects that are doing this and in my view this should be the norm so that investors can have a higher level of trust and confidence...though of course this will never guarantee that the project will be a success and that it will not fail or just evaporate.
Absolutely. If you are a team launching a legitimate project, then you should have no concern about building that trust and confidence by revealing your identity.
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Recently that has beeen the new normal in the space, i mean that is the primary idea of getting doxed and quite a number of projects are reliably [providing this service. This trend can be attributed hugely to the high rate of scam especially in this bear market. The space is dire in need of a solution like that.
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I think It's good idea, crypto project team should be KYCed.
But who is do the verification? Government or there is instation that have power to do.
But It seems difficult to happen
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I think only a few projects dare to do KYC because actually there are so many who try to scam by creating projects that end up being scams, there have been many cases like that so I think you have to be careful and don't get caught in a scam project.
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Cryptocurrency-based projects should indeed be able to implement KYC because it is to give investors confidence so that they can convince their supporters first and after that the project must also be very interesting so that it can be useful to attract investors.
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Cryptocurrency-based projects should indeed be able to implement KYC because it is to give investors confidence so that they can convince their supporters first and after that the project must also be very interesting so that it can be useful to attract investors.
agreed, crypto project team should be KYCed.
Because investors need confidence and trust.
Many scam project that scam teh investors, It's really annoying
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Yes, whenever KYC is asked by any project we should know about the Bounty Manager and dev original details also so we will also be assured that the team is real they only do not collect the data and sell it later. Yes, the KYC of the team should be done by a reputed third party so that they can not fool the hunters.
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Yes, whenever KYC is asked by any project we should know about the Bounty Manager and dev original details also so we will also be assured that the team is real they only do not collect the data and sell it later. Yes, the KYC of the team should be done by a reputed third party so that they can not fool the hunters.
I don't think all project teams will want to do KYC, because they think we need them, not them. But if it can be done then that's a good thing, but so far I haven't seen any project team doing KYC.
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I think It will never happen, because There isn't institution that will verify them.
But I believe It's a good idea, crypto project team should be KYCed
This idea of going through KYC by the new projects team really won't work, because they will shy away from going through KYC and no one can force them. But don't have to reinvent the wheel. In this case, it will be sufficient if the states register such a team at their place of work in a certain country or issue them a license to engage in cryptocurrency activities. This will very effectively reduce the level of fraud among new projects in the cryptocurrency market.
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I don't think anything about the price of bitcoin, but just watch what is happening on the stock market.Bitcoin correlates very strongly with it
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I think It will never happen, because There isn't institution that will verify them.
But I believe It's a good idea, crypto project team should be KYCed
This idea of going through KYC by the new projects team really won't work, because they will shy away from going through KYC and no one can force them. But don't have to reinvent the wheel. In this case, it will be sufficient if the states register such a team at their place of work in a certain country or issue them a license to engage in cryptocurrency activities. This will very effectively reduce the level of fraud among new projects in the cryptocurrency market.
Yeah , I think It won't work.
Every scammers have trick.
I think we should be careful to invest on crypto currency, do research before buy coins or tokens.
KYC is not guarantee us.
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And the question is, they are doing KYC toward? Who will be respnsible if their KYC is really true or notand who will check? If tehre is a certain party that accomodate the KYC process, it maybe. But, who will verify? As we know tat so far, one will verify te team of the project. W emust be more careful toverify them whether they are real or fake, maybe by providing thier social media