Defacto Compliance Components for Big and Small Crypto-Players alikeFebruary 23, 2019
Major coins are barometers of the cryptocurrency trends. The extended position and short position indicate the market mood. The market mood about giant crypto like Bitcoin creates a ripple effect on the positions that investors might want to take on a small token like TCAT tokens as well.
This is true during unexpected pullback situations that happen due to an unwinding of long positions or during conditions when the Bullish sentiment touches the extremes.
With increasing numbers of data intelligence platforms that identify anti-manipulation is becoming very common, the industry is making the compliance factor mandatory providing for sustainable growth. It, therefore, becomes necessary for big and small players alike to work in compliance with regulatory standards.
“The requesting of the source of funds and source of wealth is a standard across the industry.
Traders copy the strategies of others to make profits in cryptocurrency trading. Traders who do not have experience in trading are only risking if they copy trade without a clue as to the reasoning behind a trading decision. Copy trading facilitates benefiting from the trading knowledge of other traders. However, it is a double edge sword that should be used carefully.
Newcomers who do not have the confidence to increase their investment will feel encouraged to invest more by giving winning trades. Several trading platforms offer straightforward conditions for traders who get bonuses for copy trading in real money trades per applicable copy trade schemes. Those who copy the trades get an insight into trading techniques and those whose trades are being copied get bonus points.
So, even if cryptocurrency investors have a genuine dislike towards AML and KYC, they need to comply with it. When there is a question of investigating the origin of funds investors will be subject to active investigation of their accounts. If their profile is not in compliance with the required details, then there is a possibility of having the account suspended.
Whether it is about an account with TCAT tokens or with Ethereum, Bitcoin, Litecoin, Stellar Lumens or TRON, if there is no proof of funds one should only get out. A call to prove that the funds are clean can happen any time.
So, any investment or transaction that is made in the sorts of the requirements of the crypto space will be identifiable under the clear documentation of client data.