Donald Trump’s family has initiated the Know Your Customer (KYC) verification process for their new DeFi venture, World Liberty Financial. The project aims to provide financial services without traditional intermediaries.
Project Goals and Vision
Trump describes World Liberty Financial as part of his plan to transform the U.S. into “the crypto capital of the world.” The initiative seeks to empower the American economy within the cryptocurrency space.
The KYC verification process has become mandatory for participants wishing to access specific information. U.S.-based participants must be accredited investors in compliance with regulatory guidelines. This aims to prevent potential legal actions from the SEC against U.S. citizens regarding token sales and investment contracts. However, SEC member Mark Uyeda warned days earlier that “Trump should find a good lawyer,” highlighting the legal risks involved. Trump may be looking for a way to portray Democrats as increasingly anti-crypto as he campaigns for the upcoming elections.
Required Documents and Security Measures
As part of the KYC process, users need to provide personal identification documents, such as passports or driver’s licenses, along with proof of address. These measures comply with standard anti-money laundering (AML) regulations.
“Join @WorldLibertyFi to be part of a historic moment in making America the crypto capital!” – Donald J. Trump
The KYC process has officially opened a whitelist for those wishing to participate in the project. This is a significant step for eligible individuals to join the initiative. The project aims to offer flexible and accessible services independently of traditional financial systems. World Liberty Financial seeks to provide innovative solutions in the DeFi space, potentially offering an alternative to the existing financial system through the lens of a future U.S. president.
Completing the KYC process is essential for participants to invest in the project and fully benefit from its financial services.
