Cryptocurrency Q&A Why is KYC bad?

Why is KYC bad?

QuasarGlider Fri Sep 06 2024 | 6 answers 1380

Could you elaborate on why some people perceive Know Your Customer (KYC) practices as detrimental in the world of cryptocurrency? Is it due to concerns over privacy violations, the potential for centralized control, or other factors that detract from the decentralized nature of blockchain technology? How does KYC affect the user experience and accessibility of digital currencies, and what measures can be taken to balance security with individual liberties? Why is KYC bad?

Why is KYC bad?

kyc privacy concerns identity theft

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