How Does a Third-Party KYC Process Add Credibility to an ICO Team?
Third-party Know Your Customer (KYC) verification involves an independent service provider confirming the real-world identity of the ICO team members. This process links the digital identity to a legal, verifiable person, making the team accountable.
It significantly deters malicious actors who prefer anonymity for exit scams. While not a guarantee of success, it demonstrates a commitment to transparency and legal compliance.
Glossar
Commitment to Transparency
Disclosure ⎊ A robust Commitment to Transparency mandates the comprehensive disclosure of operational procedures, risk management policies, and fee structures for platforms dealing in crypto derivatives and options.
KYC Compliance
Compliance ⎊ The evolving landscape of cryptocurrency, options, and derivatives necessitates robust Know Your Customer (KYC) compliance frameworks, extending beyond traditional financial institutions.
KYC
Verification ⎊ KYC within cryptocurrency, options trading, and financial derivatives represents a suite of due diligence procedures employed to ascertain the identity of participants and assess associated risks.
Kyc and AML
Compliance ⎊ KYC and AML are fundamental compliance protocols for financial institutions and crypto exchanges to prevent illicit activities.