Kyc the way to stop the illegal use of crypto

[Quantum X]

What do you think guys. Does KYC can really stop the group of people that taking advantage the use of crypto to their illegalities?

[BatBit]

No, I have friends who passed KYC with other people's documents. Look, you can also find such a service if you want.

[Nestle]

Yes, this is to avoid money laundering and crypto problems. but I'm not sure our data is safe. many cases of data theft that make investor data unsafe.

[Dreamer02]

I believed it also but we can't deny the fact that their are good and bad effects of KYC,

The good thing about kyc is that it avoid people from scamming, and to avoid money laundering using crypto.

The bad thing is that their are so many scam campaign coming out and they require kyc, they only need your personal information and use them for bad intention, they only want your personal information.

[Crypto]

Yup, not only illegal activities but to ensure that the investor are not in the restricted country like china and USA, And also for bounty hunters to avoid multiple account joining in one campaign.

[damsix]

It is precisely with KYC that everything can become chaotic, for example if the ICO project fails, then many invoices send KYC.
So that's where the naughty developer team can fake your document for the next SCAM ICO.

[Quart]

What do you think guys. Does KYC can really stop the group of people that taking advantage the use of crypto to their illegalities?

Not really, they can manipulate the KYC. But applying KYC can decrease the possibility of illegality. Illegality is a hard problem to solve, many parties must cooperate together to stop it.   

[husnanparebok]

I think, is not. Some people can photo'shoped their ID and image. They can also use another person ID Card
And The Project team are so difficult to identify every ID Card across the country. They can't check the validity or users National ID. Maybe the is some option to help KYC process by hire team from some countries. And this team can help project to verify user ID based on their region or their country.

[KaptenCacing]

i dont think kyc this day work with that things
i know some1 working with another peoples kyc for doing airdrop and bounty

[Zed0X]

It can help minimize the scam activities but it cannot stop them all. People always find ways if they want to do something real bad.

[TurkiyePriest]

I think most people wouldn't make money from ICOs if they weren't. I say this to small investors like us. The KYC system is the biggest element that prevents the whale from becoming a project.