Does collecting KYC make ICOs more legit?

[bountyjunkie]

Looks like most of us don't like ICOs collecting KYCs.

[cdb1690]

On the slightly more serious note, regulatory compliant ICO sounds more like an oxymoron than a real thing. So, you’re utilizing financial infrastructure intentionally designed to be resistant against any third party intervention including any conceivable government regulation and at the same time you’re trying everything you can to be complaint to with some regulation. What's the point? On one hand you’re treating tokens as if they were property/security, on the other hand you can’t guarantee any property rights whatsoever. You see, guaranteeing property rights requires some sort of enforcer and this is impossible with blockchain technology. So yeah, by doing KYC you manage to be complaint with one particular regulation, but there are host of others you won't be able to complaint with.

[joinfree]

It depends a lot, if they are going to use money as their first recurse to ejecut and run their ico smoothly, then of course that they will need to collect kyc, otherwise their law is not going to recognize them, and maybe they can shut down their site and ask them for that money.
I dont know how does the law applies in each country, because each government is a whole universe.

But everytime that i see a KYC on an ico program, i instantly close that window, i dont like to provide my details, and less to a group of people who we are never going to know if they project is going to be a success or not.
The same applies with all those exchanges that are using this kind of protocol.
 

[omitusaf]

Was wondering why they do so in the first place?
It seems this apply to US citizens especially.

[bountyjunkie]

It depends a lot, if they are going to use money as their first recurse to ejecut and run their ico smoothly, then of course that they will need to collect kyc, otherwise their law is not going to recognize them, and maybe they can shut down their site and ask them for that money.
I dont know how does the law applies in each country, because each government is a whole universe.

But everytime that i see a KYC on an ico program, i instantly close that window, i dont like to provide my details, and less to a group of people who we are never going to know if they project is going to be a success or not.
The same applies with all those exchanges that are using this kind of protocol.
 

Same here. I think its pointless until you can actually verify it real time.