For exchanges, ICOs that collect KYC information, when are they required to send information to the government.
If I remember correctly, in the US if you make a money transaction, such as through Western Union, or bank, $3,000+, within the same day, or smaller amounts during consecutive days, the institution must collect your ID information and Social Security and report it to the government. I forget which entity of the government.
Does that mean that if one participates in an ICO and puts in over $3,000, that gets reported to the government? Or if you move $3,000 out of an exchange, that gets reported?
I think the main causes they collect KYC informations are to prevent any money laundrying just like conventional bank use to their customers. But dont worry , in my opinion they wont report every investment on ICO to the government.. they just collect it to prevent any troubles they might face in the future regarding the ICO..