The solution enables companies to perform required KYC and anti-money laundering (AML) checks on ICO participants. Regulatory requirements to prevent fraud and money laundering are essential for the lawful distribution of tokens. By all accounts, 2017 was the year ICOs went mainstream and over USD 4 billion was raised through ICOs, according to the company’s press release.
Since the US Securities and Exchange Commission has not yet issued a definitive ruling on ICO tokens and participation there is debate and uncertainty about which token sales are subject to securities regulations and how these rules might impact ICO-funded startups that the SEC later finds to be noncompliant.
To date, IdentityMind has reportedly realized significant customer traction in the ICO market with over 40 clients using IdentityMind to raise over USD 450 million. For more information about IdentityMind, please check out a detailed profile in our web fraud & e-identity company database.
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