KYC/AML clarifications for QDAO DeFi users
March 13, 2021
Add: Veronica Zubrii
QDAO DeFi and the BTCNEXT Exchange are constantly developing, expanding their services and attracting new clients. Our team is preparing to move to the next level, with new interfaces and awesome new features. This will increase global brand awareness and of course, attract the attention of regulators.
Since QDAO DeFi works in the international legal field, we need to comply with all the requirements set by the regulator. Recently, the regulator has toughened its requirements – that’s why we introduced KYC and AML procedures long ago – this is the international norm.
We regularly receive requests from the regulator regarding these two types of checks and we always meet their requests. KYC and AML guarantee the transparency of the financial activities, which means they increase the level of trust and security. It also means an additional layer of security on top of BitGo’s insurance!
The user agreement of QDAO DeFi indicates that we can ask users to complete KYC and AML procedures. Depending on your money turnover, an appropriate level of checks is required. In some cases, we can request users to go through these processes. There is nothing illegal in this – on the contrary, such checks help our activities remain within the law.
You can always check KYC/AML policies here: https://qdefi.io/en/legal#aml-policy
We appreciate your understanding in this matter. KYC/AML is a requirement that we must follow. If we want to make QDAO DeFi a popular international project, we must act within the law. And we will succeed together with you!
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