How does Zucoin do KYC and compliance?

Know Your Customer (KYC) and compliance requirements are maintained through several mechanisms, even though the Splitchain network itself may store less overall data compared to some traditional blockchains.

Network nodes can opt-in to logging specific information as needed.

The Zucoin project has completed the requirements as set by the Austrac regulator, and an audit has been completed.

Additionally, the Zucoin project completed an approx. 12-month audit investigation process with the regulator ASIC (Australian Securities and Investments Commission) between 2022 and 2023.

Cryptocurrency exchanges that list Zucoin will typically manage KYC processes for their own customers.

Zutopia manages the KYC process for Zucoin, during the local (fiat) currency on/off ramp process.

If an exchange wishes to log specific transaction data for their customers, they can enable these logging features in their own integration endpoints.

For example, exchanges can log data related to the on-ramping of users onto other currencies and conversions into or out of Zucoin.

Therefore, detailed logging and compliance measures can be implemented on a per-peer or per-service basis, as needed, rather than being universally enforced at the base layer for all data.