this post was submitted on 23 Jan 2024
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Why do almost all ICO / IDO platforms require KYC? How safe it is to do? (zerobytes.monster)
submitted 11 months ago by [email protected] to c/[email protected]
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The original was posted on /r/cryptocurrency by /u/A13xander on 2024-01-23 08:35:36+00:00.

I've been researching several ICO / IDO platform like Coinlist, Polkstarter and Pools Finance. Despite them being supposedly WEB3 company offering Initial DEX Offering that doesn't accept FIAT at all, why is KYC so prevalent there? Even some platform does not allow USA citizen to participate but still they need KYC. How safe it is to do KYC with them? What about Blockpass?

I'm not entirely opposed to KYC, i get it for CEX since they deal with your bank and FIAT to transfer and withdraw money, but why on DEX also?

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