1. | conceptGuidelines to remove anonymity from crypto holdings and trading, ultimately aimed at combating illegal activities.
Most exchanges which offer fiat-crypto pairs implement KYC as a legal requirement. This is usually done by verifying identity documents.
Most exchanges require a registration process which range from near anonymity to full identity verification (KYC - Know Your Customer).
In general, the more an exchange deals directly with fiat based trading, the stronger the KYC requirements are.
* All terms and definitions will change as the Cryptionary improves
Ethereum Virtual Machine
Know Your Customer