When signing up for a crypto exchange account, be prepared to go through a verification process that includes providing personal identification information such as a copy of a photo ID, your name, address and social security number. Some exchanges may even employ facial recognition technology as an added layer of verification. This process is known as KYC (Know Your Customer/Know Your Client) and is a legal requirement mandated by government organizations such as the Financial Crimes Enforcement Network (FinCEN) and the Anti-Money Laundering (AML) rules of the Bank Secrecy Act. The purpose of these regulations is to prevent illegal activities such as fraud, financial terrorism and money laundering.