Re: 5sec.biz - a crypto platform for fast, fair, and convenient exchanges
by on 15/12/2025, 21:16:32 UTC
As for identity verification: for the majority of exchange directions, verification is not required. However, when exchanging fiat to crypto (for example, bank transfers in KZT), verification is mandatory. This is a necessary measure to prevent fraud and protect victims from having stolen funds laundered through the platform.
Do you have any plans of obtaining one (a license) in the future?Given that you're going to enforce KYC and AML policies to some users at a certain point in time. I think they should also be aware of which company is asking for their sensitive documents, let alone processing the funds. You know, fraud can be a two-way street. It could be the user or even the service. So how do you ensure that users have confidence in your service, knowing that it's not regulated at the moment but may block funds and request for KYC.