Why is it necessary to have a valid proof of address when participating in initial coin offerings (ICOs)?

3 answers

• Ramachandran RamOct 22, 2025 · a month ago
  In order to comply with anti-money laundering (AML) and know your customer (KYC) regulations, ICOs require participants to provide a valid proof of address. This helps prevent fraud, money laundering, and other illegal activities by ensuring that participants are who they claim to be and that they are not using fake identities or engaging in illicit activities. By verifying participants' addresses, ICOs can also ensure that they are not accepting contributions from restricted jurisdictions or individuals with questionable backgrounds.
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• Gissel KirkegaardApr 22, 2024 · 2 years ago
  Having a valid proof of address is necessary for ICOs to establish trust and credibility. It allows ICO organizers to verify the identity and location of participants, reducing the risk of fraudulent activities. Additionally, it helps ICOs comply with legal and regulatory requirements, such as AML and KYC regulations. By ensuring that participants provide a valid proof of address, ICOs can create a more secure and transparent fundraising environment for both investors and project teams.
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• Farley ClausenMay 30, 2023 · 2 years ago
  When participating in an ICO, providing a valid proof of address is essential to protect the interests of all parties involved. It helps ICO organizers verify the geographical location of participants, ensuring that they are not from restricted jurisdictions. This is important for compliance with local regulations and to prevent potential legal issues. Additionally, requiring a proof of address helps prevent identity theft and ensures that participants are not using multiple accounts to manipulate the ICO process. Overall, having a valid proof of address is a necessary measure to maintain the integrity and security of ICOs.
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