KYC stands for "Know Your Customer." It refers to a set of procedures and policies that companies, especially financial institutions and online services, implement to verify the identity of their customers and ensure they are not involved in illegal activities, such as money laundering or financing terrorism.

The KYC process generally involves the collection and verification of personal information, such as:

- First and last name

- Address

- Date of birth

- Identification number (such as a passport or identity card)

- Contact information (such as an email address or phone number)

The goal of KYC is to protect companies and their customers from potential risks and to comply with applicable regulations and laws.$BTC