The IRS would
define KYC, or Know-Your-Customer, as the applicable laws, regulations, rules, and administrative practices and procedures governing the requirements of financial institutions (
e.g., Coinbase) to obtain documentation confirming the identity of account holders. However, in the Bitcoin
space, KYC is often used more generally and refers to ANY
time an entity asks a user for information which does not necessarily confirm the users identity but requires the information before the user can sign-up and utilize the entities services, such as name, phone number,
email, and payment methods, such as a debit card.
My VPN is KYC at the moment. I used my real name, phone number, email, and payed with my debit card. Next
time, I
will use Mullvad VPN, which doesn't require any KYC and accepts bitcoin as payment so I
don't have to use my bank associated debit card.