What measures can Kickstarter take to avoid being fined in the cryptocurrency industry?

3 answers

• Dec 25, 2021 · 3 years ago
  Kickstarter should establish a thorough vetting process for cryptocurrency projects seeking funding on their platform. This process should include verifying the legitimacy of the project, conducting background checks on the project team, and ensuring compliance with relevant regulations and laws. By implementing strict due diligence procedures, Kickstarter can minimize the risk of supporting fraudulent or illegal cryptocurrency projects.
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• Dec 25, 2021 · 3 years ago
  One possible measure Kickstarter can take is to collaborate with reputable cryptocurrency exchanges or regulatory bodies. By partnering with trusted entities in the cryptocurrency industry, Kickstarter can gain insights and guidance on compliance and regulatory matters. This collaboration can help Kickstarter navigate the complex landscape of cryptocurrency regulations and reduce the risk of being fined or penalized.
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• Dec 25, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I would recommend Kickstarter to consider implementing a Know Your Customer (KYC) process for cryptocurrency projects. This process would require project creators to provide identification documents and undergo verification procedures. By implementing KYC, Kickstarter can ensure that project creators are legitimate and comply with anti-money laundering regulations. This measure can help Kickstarter avoid potential fines and penalties related to illegal activities.
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