I like COSS but I think that new KYC is very bad and that it will damage a project. You have to do KYC for Crypto to Crypto trades. Not many people will want to do that...
I like COSS but I think that new KYC is very bad and that it will damage a project. You have to do KYC for Crypto to Crypto trades. Not many people will want to do that...
Thanks for the comment! I can’t speak authoritatively about any of this (again, not a spokesperson) but I do know that COSS spent a very long time tailoring their new KYC policies to be in compliance with very strict securities laws globally so that they wouldn’t run into problems once Fiat was up. Keep in mind that COSS is largely a platform for running ICOs, which have VERY high KYC standards or else face the wrath of the SEC. There is going to be a lot of legal change in the upcoming year or two globally and COSS has every intention of surviving it. Many of the exchanges that are currently up aren’t in compliance with the law in some of the territories they’re running in and you can’t be holding that much money and playing fast and loose with your taxes and securities policies without anyone noticing. Anyway, all of the exchanges have hoops you have to jump through with KYC and approval times. But they’re still just launching these features and I’m sure policies will change over time to respond to the market.