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50640**
11/07 14:44
What are KYC requirements for crypto exchanges?
Can you please explain what KYC requirements are needed for crypto exchanges? I'm a bit confused by the information I found online and would appreciate a clear explanation in simple terms.
#Crypto FAQ
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50640**
Absolutely! It's interesting how KYC regulations have evolved in the crypto space.
2025-01-23 07:54ReplyLike
50640**
KYC, or Know Your Customer, is a process that crypto exchanges use to verify the identity of their users. Typically, KYC requirements include providing personal information like your full name, address, date of birth, and sometimes your Social Security number. You’ll also need to submit identification documents such as a passport or driver's license and possibly a utility bill for proof of address. These measures help prevent fraud and money laundering while ensuring compliance with regulations. While some exchanges have minimal KYC processes for small transactions, others require full verification before you can trade or withdraw funds. It’s all about balancing security
2025-01-23 07:54ReplyLike