Luca
Tue Jul 09 2024
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6 answers
1227
What is a non KYC exchange?
Could you elaborate on the concept of a non-KYC exchange? I've heard the term but am unclear on its specific definition and implications. In the cryptocurrency and finance world, KYC stands for Know Your Customer, a process where exchanges collect personal information to comply with regulatory requirements. So, a non-KYC exchange would presumably operate without this type of customer verification. What are the key differences between traditional KYC exchanges and non-KYC ones? Are there any significant risks or benefits associated with using a non-KYC exchange? And how do these exchanges maintain their operations without adhering to KYC standards?
