ICO is one of the best ways to make sure that the money is transferred online without any jurisdiction which according to some is a good thing. The fact of the matter is that it is not a good aspect of the ICO at all. It fosters the money laundering and allows the individuals to work for their own interests. The digital tokens that are associated with the ICO are the ones that can be traced now. The worst part is that the ICO is not mandatory for the cryptocurrency and the investors can also use the currency even without the ICO. For investors, however, it is highly recommended to use the ICO to make sure that the transactions are recorded with care and perfection. With the passage of time more and more ICOs are complying with the AML and the KYC regulations.
There are many reasons for the ICOs to comply with the AML and the KYC regulations. Some of the best and the most important reasons are mentioned under.
Bank Based Credibility
This is very important that the banks let this kind of structure within their own established networks. It is very important as it develops a sense of credibility and lets the investors believe in the system. The KYC laws if obeyed by the ICOs will let the banks do the business with the exchanges that are established online. It will make sure that the best and the most advanced outcome is generated and the people get to know the overall structure of the ICOs as well. It is a fact that most of the investors from all over the world also like to develop relationships with the banks that work in the world of real money. Complying with the KYC and AML regulations will make sure that the ICOs also get the full potential of the bank based credibility.
Compliance – The Key To Success
It is very important that you get the be stand the most advanced outcome when it comes to the ICOs. It is not possible if the world does not recognize them. This is only possible if the ICOs are declared to be the securities. The world is going towards that direction and now it is up to the ICOs to make the world believe that they are with them.This can only be done if the AML and the KYC rules are followed. It should be done immediately to avoid any problem.
Long Term Relationships
The ICOs always promise high returns.Investors are always tending to move towards something that is regarded as the long-term investment. If the ICOs are declared as the securities then it is important to make sure that the KYC and the AML regulations are followed. It will make sure that the long-term relationship is followed by the investors and the overall management of the ICOs is also made secure. Compliance will also make sure that the people get the best and the most advanced outcome when it comes to ICO dealing without any problem.