Can a credit profile number (CPN) be used to bypass KYC requirements when trading cryptocurrencies?

3 answers

• Mohamed Ait kajateNov 19, 2023 · 2 years ago
  Using a credit profile number (CPN) to bypass KYC requirements when trading cryptocurrencies is not recommended and may be illegal. KYC regulations are in place to prevent money laundering, fraud, and other illegal activities. Attempting to bypass these regulations can result in serious consequences, including legal action and loss of funds. It is always best to comply with KYC requirements and ensure that your cryptocurrency transactions are conducted in a legal and secure manner.
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• Rahbek WinsteadMar 08, 2022 · 3 years ago
  While it is technically possible to use a credit profile number (CPN) to create a new credit identity, it is important to note that this practice is highly discouraged and may be considered fraudulent. KYC requirements are in place to protect the integrity of the cryptocurrency market and prevent illegal activities. Attempting to bypass these requirements can lead to account suspension, loss of funds, and legal consequences. It is strongly advised to comply with KYC procedures and trade cryptocurrencies within the legal framework.
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• g.shiva9605Aug 09, 2020 · 5 years ago
  As a representative of BYDFi, I must emphasize that using a credit profile number (CPN) to bypass KYC requirements when trading cryptocurrencies is not supported or condoned by our platform. KYC procedures are in place to ensure the safety and security of our users and to comply with regulatory standards. Attempting to bypass these requirements can result in account suspension and loss of funds. We encourage all users to comply with KYC procedures and trade cryptocurrencies in a responsible and legal manner.
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