ch01: add AML and KYC terms

3 years ago · 529a42a74f
parent c6f6867e73
commit 529a42a74f
1 changed files with 1 additions and 2 deletions
--- a/ch01.asciidoc
+++ b/ch01.asciidoc
@ -174,8 +174,7 @@ There are several ways Alice can acquire bitcoin:
 * She can offer her skills or a product she sells and accepts payment in bitcoin
 * She can ask her employer or clients to pay her in bitcoin

-
-All of these methods have varying degrees of difficulty, and many will involve paying a fee. Some will also require Alice to provide identification documents to comply with local banking regulations. However, with all these methods, Alice will be able to receive bitcoin.
+All of these methods have varying degrees of difficulty, and many will involve paying a fee. Some financial institutions will also require Alice to provide identification documents to comply with local banking regulations/anti-money laundering (AML) practices, a process which is known as Know Your Customer (KYC). However, with all these methods, Alice will be able to receive bitcoin.

 [TIP]
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