Why Do I Have to KYC?

BankSocial operates as a currency exchanger and money transmitter and is, therefore, registered as a Money Service Business (MSB).

 

As such, BankSocial is required by federal law to Know Their Customers (KYC) and federal law mandates the KYC process that BankSocial uses. This process ensures compliance with federal regulations and helps to protect you and your cryptocurrencies.

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