KYC (Know Your Customer)

Know your customer, (KYC) refers to a process and a set of procedures that verifies the identity of its clients and the risk of illegal intentions towards said business.

The term is also sometimes used to refer to bank and anti-money laundering regulations. KYC procedures are given priority in the banking sector and financial institutions.

From cryptocurrency exchanges, those that prioritize KYC the most are Gemini, Kraken and Bitstamp.