Market Analysis

Tezos Foundation subjected to Know Your Customer requirements

Tezos Foundation subjected to Know Your Customer requirements
Jun 12, 2018 by Rico Wise

Recently, the Tezos Foundation has made an announcement regarding the KYC/AML regulations, stating the necessity of compliance with the requirements and improving policies. According to the statement, these protocols have become significant for blockchain businesses.

The organization has entered into a cooperation with an intermediary company for the respective oversight. Those participants that will adhere to the regulations will gain access to activation codes related to public key hashes. The codes are needed to get through to the designated allocations.

Protocols will become available after the Tezos launches its project. KYC/AML protocols provide identity verification and have turned into a normal practice in the industry of blockchain technologies.

The Tezos foundation will provide support for operations that are focused on improvement of open-source tech, Tezos’s protocols and the association itself.

Launching these regulations will allow all the community members of Tezos to benefit.

First, Tezos was created as a ledger, later developing in a large project with a noble purpose – blockchain split prevention, intended to avoid the precedent that occurred between Ethereum and Ethereum Classic.

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