Nicolo
Sun Jun 16 2024
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7 answers
1280
What are crypto casinos with no KYC?
Could you please elaborate on the concept of crypto casinos with no KYC? I'm quite interested in understanding what these are and how they operate. Are they a type of online gambling platform that accepts cryptocurrency as a form of payment? And why do they not require Know Your Customer (KYC) verification? I've heard that KYC is a standard practice in most financial transactions, so it's intriguing to learn about casinos that don't adhere to this norm. Could you also discuss the potential risks and benefits associated with using these crypto casinos? I'm eager to know more about this emerging trend in the crypto and finance world.
CryptoAlchemy
Wed May 08 2024
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6 answers
1097
Is no KYC legal?
Is no KYC legal?" This query comes with a layer of curiosity and perhaps a bit of skepticism. It suggests a desire to understand the legality of not performing Know Your Customer (KYC) checks in the realm of cryptocurrency and finance. KYC is a standard practice in the financial industry, aimed at verifying the identity of clients and ensuring compliance with regulatory requirements. The questioner may be exploring the gray areas of this practice, wondering if there are circumstances where foregoing KYC checks is permissible or even encouraged. There could be a hint of skepticism towards the necessity or effectiveness of KYC, or perhaps a search for loopholes in the system. The tone of the question is inquisitive, seeking clarity and understanding rather than challenging the existing norms. It suggests an open mind, willing to listen to explanations and perspectives that might justify or explain the legality of not performing KYC. However, it's important to note that, regardless of the tone, skipping KYC checks is generally illegal and violates regulatory standards, as it poses risks to financial stability and consumer protection.
