Trump family-backed crypto project World Liberty Financial (WLF) has taken a new step in its launch by opening the KYC verification process on its official website. During Monday morning, the site underwent maintenance, which temporarily took the page out of service. However, the platform is now operational, and interested users can begin the verification process.
On the home page of World Liberty Financial you can read: «Additional information about World Liberty Financial is only available to individuals who have been pre-qualified by completing a KYC process. In the United States, this information is only available to people who have also been verified as accredited investors. This page is not intended to be an offer to sell or a solicitation to buy tokens in any jurisdiction.
World Liberty Financial (WLF) crypto project launches KYC process.
What is KYC verification and why is it important?
The KYC (Know Your Customer) verification process is a mechanism used to verify the identity of customers, in order to prevent illegal activities such as money laundering and fraud. It is a legal requirement in anti-money laundering (AML) measures, and generally involves the presentation of personal identification documents, such as a passport or driver’s license, as well as proof of address, depending on the jurisdiction.
With the implementation of KYC, World Liberty Financial seeks to guarantee the legitimacy of participants, ensuring that they comply with international and US regulations.
The enigmatic project of World Liberty Financial
Little is still known about World Liberty Financial, which was initially promoted by Eric Trump and Donald Trump Jr. in early August, amid former President Donald Trump’s growing interest in cryptocurrencies. The official launch event took place on September 16 in an X Spaces live stream, where more details of the project were revealed.
During the event, it was confirmed that World Liberty Financial would sell a non-transferable governance token, called WLFI, with participation limited to accredited investors. The distribution of the token is planned as follows: 63% will be sold to the public, 17% will be allocated to user rewards, and 20% will be reserved for team compensation.
A few minutes ago, Donald Trump made a new promotion of the project:
I promised to Make America Great Again, this time with crypto. @WorldLibertyFi is planning to help make America the crypto capital of the world! The whitelist for eligible persons is officially open – this is your chance to be part of this historic moment. Join:…
— Donald J. Trump (@realDonaldTrump) September 30, 2024
In summary
The launch of Trump family-backed World Liberty Financial has begun with the opening of KYC verification, a key step in preparation for the sale of the WLFI token. While there is still much to know about the project, its focus on regulation and transparency with KYC implementation reinforces its commitment to current crypto regulations.
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