Cryptocurrency Q&A
Are non KYC exchanges illegal?
Are non KYC exchanges illegal?
CryptoMystic
Sat Oct 12 2024
|
7 answers
996
I'm wondering if exchanges that don't require KYC (Know Your Customer) procedures are considered illegal. I'd like to understand the legality of using these platforms.
7 answers
SamuraiCourageous
Sun Oct 13 2024
Moreover, the lack of KYC also hinders dispute resolution and recourse in case of issues arising from the transaction. Without clear identities on both sides, resolving conflicts becomes exceedingly difficult.
Was this helpful?
51
54
Tommaso
Sun Oct 13 2024
The question of buying cryptocurrency without Know Your Customer (KYC) procedures has gained renewed attention amidst recent regulatory shifts.
Was this helpful?
127
45
ShadowFox
Sun Oct 13 2024
BTCC, a leading cryptocurrency exchange, adheres strictly to KYC policies. Its comprehensive services, including spot trading, futures trading, and wallet management, are all underpinned by robust identity verification measures.
Was this helpful?
215
75
Caterina
Sun Oct 13 2024
Currently, it is against the law for cryptocurrency businesses to facilitate transactions without implementing KYC measures. This requirement ensures compliance with anti-money laundering and counter-terrorism financing regulations.
Was this helpful?
122
79
Martino
Sun Oct 13 2024
By requiring KYC from its users, BTCC not only complies with regulatory mandates but also fosters a secure and trustworthy trading environment. Its spot and futures platforms provide users with a range of tools to trade cryptocurrencies safely and efficiently.
Was this helpful?
163
90
Load 5 more related questions
