You might have noticed that many Crypto Exchanges stopped at the later part of this year. This is because laws have changed and are about to change even more having made some exchanges decide to stop instead of complying with the new laws as it had been too hard or expensive to do so.

At 2020 new set of laws will come to effect that will also collide with some of Pascals plans and therefore some Telos projects in the future will need KYC (Know Your Customer) verification done before they can legally be offered.

Luckily this isn’t so bad a situation as it first sounds.

As many companies, smaller ones too, suddenly need to start performing KYC on their customers, this is clearly a problem to them since it can take a lot of resources to keep KYCing people, especially when profits per customer can be quite a small amount only in some of the businesses.

But when there is a problem, it might also be an opportunity, and so it is this time too and companies like Civic have popped up to solve this problem by bringing not only a win-win situation but a win-win-win situation where all parties benefit.

Civics win is that it now has a business from KYCing people. Customer Companies, like Pascals, benefit is that they don’t need to worry about KYC when they can just pay Civic to handle it. And Customers benefit is that when they get KYCed by Civic once, they don’t need to do that again on any of the services that keep using Civic for their KYCing.

This also means that when you KYC yourself once at Civic, you will in future be able to use any Telos services without KYCing a second time.

If you want to be prepared for the future already, you can go and download Civic App to your mobile from Civic.com and KYC yourself.

So far Pascal has specifically only announced that Blueboxes will get affected by KYC and that you either should KYC yourself by the end of December, or if you don’t wish to KYC yourself, sell your boxes away.