Divi KYC/AML Redemption FAQ

What documents are required?

You'll need a government ID such as passport or driver's license. Then a utility bill or bank statement for proof of address.

What information will be required?

In addition to the documents above the following information will be required to pass through the KYC process:

  • First name
  • Last name
  • Email address
  • Birth year
  • Government ID or passport number
  • Address
  • Country of residence
  • Occupation
  • Net worth
  • Yearly income

What is the KYC process like?

You'll need to upload a scan of your ID document, then use your webcam to take a still shot from a video of yourself holding that document. Then the proof of address. An A.I. algorithm will compare the two and confirm your I.D. Then proof of address is next. After that, the AML company will cross-reference your ID with an international database of money launderers, terrorists, and other scum and villainy. The database check is very fast. Uploading the docs takes longer.

What if I don't pass?

There's a small chance that a manual check will need to be done, in which case the KYC/AML companies have people constantly doing this, and so a manual check takes just a few hours. At most 24hrs.

Since DIVI isn't a security, why do we have to do this?

The SEC or U.S. government haven't passed any laws regulating cryptocurrencies. Instead they're lamely attempting to apply ancient laws such as the Howey Act. They have made many official statements, some of them clear, some of them not, some of them overly broad, and some contradictig other government bodies. Our lawyers take all that information, along with suggestions from people they know who work for the SEC, and give us the best advice possible. Our job is to try to protect our community from an uncertain future. One thing for sure is that the rules are getting stricter, and the SEC is cracking down more all the time. In order to make sure Divi can achieve its goal of becoming a worldwide legal digital money, we need to make sure we're compliant with the laws that exist now and are likely to exist in the near future. We're confident all our fans will thank us for our caution later.

What if I'm an accredited investor?

This doesn't matter. In order for accredited investors to legally participate in ICOs, that ICO would have had to register as a security with the SEC, which until recently nobody has done.

What about EOS and Ethereum? THEY didn't do KYC so why must Divi?

Ethereum and EOS are smart contract cryptos that are more clearly not securities because of their very obvious utility. EOS has taken a risk doing it as it has and so far the SEC has left them alone, which is a good sign, but not guaranteed that they won't cause trouble later.

I know another crypto that isn't doing this, why not?

Yes, some cryptos aren't doing KYC/AML and are allowing U.S. participants. In our opinion, anyone who isn't doing this right can't possibly care about the future of their coin and is probably only interested in a long, drawn-out exit scam. Be very wary of any cryptos who aren't doing KYC/AML and expect them to be delisted, or never get listed on good exchanges.

Why didn't you announce this long ago?

It hasn't been 100% clear until recently that we had to do this. We've been looking, researching, overturning every stone, talking to multiple lawyers, other crypto CEOs, and trying to find an alternative solution. Because some other cryptos haven't done this, it's been tempting to "go with the herd" and hope there's safety in numbers. But every lawyer says the same thing... don't be tempted to think we can get around the U.S. law just because others are going this route. It's only a matter of time before the SEC takes everyone down who hasn't complied. For anyone watching the news about cryptos, it's obvious the SEC and governments around the world are getting constantly stricter and more regulated. So we would be negligent in protecting our community if we didn't make sure we were doing all we could to be compliant with current law and new ones that will be coming as cryptocurrencies grow in importance.

Can we use something other than MetaMask to complete the redemption?

We are currently working on integrating additional methods of signing the transaction that will be sent and will update the community when those integrations are ready.

If I live in the U.S. can I still run a masternode?

Yes. US residents can purchase and own DIVI and stake / run masternodes.

Can I complete the KYC process before launch on the 25th?

Kyc will be available as soon as it's ready. This will be before the 25th of June. I'm almost done developing the process. You'll get your unique identifying link and go back to the page on the 25th to complete the redemption process.

Which exchanges will support both DIVI and DIVX?

Currently Cryptopia and BleuTrade will support both coins.

Still have questions?

Check our Telegram channel for additional updates.