Know Your Customer(KYC) Regulations for STOs
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Know Your Customer (KYC) Regulations for STOsKnow your customer, also commonly referred to as “know your client” or #kyc for short, is the name given to the process of a company confirming their customer’s identity and making an assessment as to whether the business relationship has a potential risk of illegal activities. The term is also used in relation to anti-money laundering regulations (AML).Typical examples of businesses that have to place a lot of emphasis on KYC regulations are banks, other financial institutions, companies that are issuing stock and also, more recently, companies who are offering their shares through Security Token Offerings (STO).Why do STOs apply to KYC Regulations?Unlike ICOs, which issue Utility Tokens to the customer, STOs provide what is called a Security (...)