The Metaverse sandbox platform will implement Know Your Customer (KYC) verification for its staking process, according to an announcement on Aug. 3.
The announcement states that Only verified users can deposit The Sandbox tokens and receive staking rewards, while non-verified users can deposit The Sandbox tokens and receive staking rewards. will be placed in withdrawal mode only According to data from blockchain analytics firm Messari. showthat 123 million SAND or 6.7% of the circulating supply of tokens are occupied by users
“To enhance user security and compliance. We have implemented KYC verification for our staking process, our goal is to ensure that our user accounts are verified before they can participate in staking or earning.”
SAND is one of 68 cryptocurrencies that the United States Securities and Exchange Commission (SEC) considers securities. In recent lawsuits against Binance and Coinbase
refer : cointelegraph
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