SwissCoin KYC, a.k.a. Know your customer is simply a process of identifying and verifying SwissCoin investors. This is meant to prevent SwissCoin from being used, intentionally or unintentionally, by criminal elements for money laundering activities.
SwissCoin is the people’s currency. It’s the currency of transparency. At the same time, it’s not going to be a channel to sponsor illicit activities.
Everyone can join SwissCoin for free but from the date of November 14th 2016, users who have not completely and successfully gone through the SwissCoin KYC verification process will not be able to make any further transactions.
If you are a BitCoin user, you know it’s possible to send and receive bitcoins without giving any personally identifying information as BitCoin addresses are not tied to the identity of users.
Anyone can create a new and completely random address at any time, without the need to submit any personal information to anyone. This is why Bitcoin is often referred to as an anonymous currency. But SwissCoin is not anonymous.