MetaMask, a popular crypto wallet, has recently introduced a Know Your Customer (KYC) process to enhance anti-money laundering (AML) and counter-terrorism financing (CTF) compliance. This step has raised concerns and questions among the MetaMask community, making it crucial to provide comprehensive information on the matter.
KYC in MetaMask involves collecting and verifying personal information, such as name, address, date of birth, and government-issued ID, from users to establish their identity and reduce the risk of illicit activities.
Several factors drive the importance of KYC in MetaMask:
Implementing KYC in MetaMask offers numerous benefits:
Pros:
Cons:
MetaMask's KYC process typically involves the following steps:
Table 1: Estimated Global Cryptocurrency Market Size
Year | Market Size (USD) |
---|---|
2020 | $1.49 billion |
2021 | $3.5 trillion |
2022 (est.) | $5.6 trillion |
Table 2: KYC Adoption in Major Crypto Exchanges
Exchange | KYC Status |
---|---|
Binance | Mandatory for certain transactions |
Coinbase | Mandatory for all users |
Kraken | Mandatory for large transactions |
FTX | Optional for most transactions |
Table 3: Breakdown of MetaMask KYC Requirements
Information Type | Requirement |
---|---|
Name | Full name |
Address | Physical address |
Date of Birth | Date of birth |
Government-Issued ID | Clear photo |
Facial Recognition | Webcam or mobile scan |
2024-08-01 02:38:21 UTC
2024-08-08 02:55:35 UTC
2024-08-07 02:55:36 UTC
2024-08-25 14:01:07 UTC
2024-08-25 14:01:51 UTC
2024-08-15 08:10:25 UTC
2024-08-12 08:10:05 UTC
2024-08-13 08:10:18 UTC
2024-08-01 02:37:48 UTC
2024-08-05 03:39:51 UTC
2024-08-06 04:35:33 UTC
2024-08-06 04:35:34 UTC
2024-08-06 04:35:36 UTC
2024-08-06 04:35:36 UTC
2024-08-06 04:35:39 UTC
2024-08-06 05:01:02 UTC
2024-08-06 05:01:03 UTC
2024-08-06 05:01:05 UTC
2024-10-19 01:33:05 UTC
2024-10-19 01:33:04 UTC
2024-10-19 01:33:04 UTC
2024-10-19 01:33:01 UTC
2024-10-19 01:33:00 UTC
2024-10-19 01:32:58 UTC
2024-10-19 01:32:58 UTC