KYC registration for ICOs? How do they verify?

[Daffadile]

The real question is who are you giving your passport to?  Are they thieves, terrorists, criminals or scammers?  Why would a crypto project want your identity like that and not move the business to a proper jurisdiction to take this potential huge liability off the supporters.. 

Do they secure the info (impossible to take out the human factor).

You feeling lucky?  For those that send in all your information may your chains rest lightly.

Is crypto really crypto when you need to show 18 forms of id?  May as well head down to the big bankers and do business there.

Yes and ID theft is a thriving industry. Bank accounts can be opened in your name. They use your KYC to pass official KYC's.
To be able to use KYC you need access to the personal records of people which the ICO projects don't have. THere is no reason for them to have it. They say it is for local laws but what laws are these? They always talk about these "laws" yet never tell us what laws exactly.

[cryptotnak]

They will just one to check if you are living outsde U.S because all of the u.s citizens arent allowed to joing any of these ICOs because of the SEC regulations which prohibited them,SEC is only protecting their citizens from a potential scams because almost all of the ICOs are created just to raise funds and eventually will scam you.

[alex_kir]

I have no idea how they conduct KYC and who exactly conducts KYC and where our documents are eventually sent. Very few people think about it, so I think that these people will soon face problems.

[LeroyBro]

The real question is who are you giving your passport to?  Are they thieves, terrorists, criminals or scammers?  Why would a crypto project want your identity like that and not move the business to a proper jurisdiction to take this potential huge liability off the supporters.. 

Do they secure the info (impossible to take out the human factor).

You feeling lucky?  For those that send in all your information may your chains rest lightly.

Is crypto really crypto when you need to show 18 forms of id?  May as well head down to the big bankers and do business there.

Yes and ID theft is a thriving industry. Bank accounts can be opened in your name. They use your KYC to pass official KYC's.
To be able to use KYC you need access to the personal records of people which the ICO projects don't have. THere is no reason for them to have it. They say it is for local laws but what laws are these? They always talk about these "laws" yet never tell us what laws exactly.

Just when you thought ICOs were untrustworthy as is.

No way I'm sending them my ID (real one anyway) - too risky.

[habaratbu]

They just checking if you are really not a U.S citizens because the SEC's has prohibited all of the citizens of america to join any of these countries,these ICOs are only following SEC's regulations so they wont have any problem with their ICO phases,KYC verifications will only require you to send your IDs so they would know if you are from U.S or not,so they can be sure that they wont violate the  SEC's regulations.

[junjunsalsalani]

They will only require you to send your IDs then they will check it if you are from U.S ,there wont be a problem if you arent citizen of america becaue the u.s citizens are the only ones who cant join these ICOs because the SEC has prohibited any US citizens from joining these potential scams.

[stomachgrowls]

Im against with this KYC policies of ICO on investors and bounty participants.

I mean, crypto are not used to become like this. We are already giving personal information to some of the centralized exchanges and now on the ICO project itself we need to give our personal information. For what? For investors it doesn't making sense. And if for bounty participaints to detect multiple participants, well sounds reasonable but they must think of other way without undergoing KYC's.

Let's see how this will goes on to the future projects and I want to see if I found something to become reasonable to undergo KYC's.

Even myself is really against on this trend which now ICO bounty hunters is already required to pass up documentation for KYC which isnt really right after all.The true essence of anonymity among crypto is gone because of this rule implementation there might still other way on how to stop on being abused and this is why i do pass up to a project when theres a KYC rule.Its not really a good thing to give any information about yourself throughout the net.

[ronni01]

I think this is unacceptable! Because we are not insured here!
It's just that the guys can take your giving and mess things up on the Internet!
I do not trust !

[barlo357]

Actually I'm not favor about the kyc because mostly of the personal information of yours must be submitted including your government id and that is too dangerous for us.And this is the start for the hacker to thief  if they got already the information of each member.

[cryptocrocs]

They will only require you to send your passport or drivers license for them to be sure that you arent a u.s citizen because the u.s citizens arent allowed to join any of these ICOs because the SEC has prohibited these people to join,SEC is just protecting their citizens from potential scams like ICOs that is why these ICOs are complying only to the SEC's regulations so there will be no conflict with them.

[totnaksquad]

They will require you to send your passports or drivers license because they want to know if someone from the u.s will join their ICO,because u.s citizens are prohibited from joining these ICOs,regulated by the SEC in the u.s and if these ICOs will accept U.S citizens there will face some legal consequences that is why most of the ICOs are starting to have KYC verifications.

[mikfresh]

It's a necessary step, they have to follow AML regulamentations (anti money laundering), but I understand your concerns. Deep web is used to sell IDs coming just from the fake ICOs. Too bad, but there is nothing we can do apart from being careful and be critic when we choose where to invest. Usually ico use third parties to gather and approve documents, I can't say anything more.

[cryptoatomic]

KYC verifcations will need get your IDs,but for your security you can have fake IDs first so that if your ID was sold into the darkweb your identity would be safe,because you didnt send your own ID.Most of the ICOs are doing this KYC thing to be sure that they arent violating the SEC's regulation which prohibiting all of the U.S citizens from joining any ICOs.

[ngavanngo22]

There are a lot of investors used fake ID to pass KYC that why news ICO projects are finding out the way to stop them like requires picture investors holding their ID card and a paper with a sentence that required. Beside there are few ICO project requires KYC by video like Evion project, investors need to KYC by video, it's a new way to avoid fake identity

[cryptamod]

First they will ask you to send your passport or drivers license,for them to check if you are living inside the U,S because no citizens should be joining any ICOs as to what the SEC's regulations they should all comply to it,because if they arent going to follow SEC's order they will face a lot of charges,that is why most of these projects are requiring you to send your IDs.

[danherbias07]

If it is the government who wants it then they should also be the one making the effort to do so.

Actually I have no idea but that is my opinion. One thing will be true. They will have our files now and wont be easy to escape in case something goes wrong.
Now about the fake ones, it will be the company first who should identify the credibility of the identification.
Bounty hunters would love that if the stakes will be shared to the legitimate wotkers.

[weav]

I have no idea if that would work , but even if i had a work around i still wouldn't want anything to do with these projects. There are other and better way's to check identity's without asking people to send their ID's. But the biggest problem is people still sending them like it is nothing , they have no idea or don't think about what is gonna happen with their info, or who receives it. This is gonna backfire on a lot of people.

[cryptomema]

ICO that requires KYC are surely complying to the SEC's regulations which prohibits the U.S citizens from joining any of these ICOs because SEC wants to protect their people to potential scams like ICOs because we all know most of the ICOs are just raising funds and then will eventually scam their investors,KYC is really not necessary but if you want to get cheaper tokens you need to send your ID,or you can have fake IDS for your own safety.

[Zendalet]

The current KYC process is inefficient and a breach of privacy laws. If we can't have crypto without KYC then the least we can do is find ways to make it as painless as possible, minimizing privacy risks and maximizing efficiency. That's why I support blockchain ID projects like VeriMe.

[cryptogirlboss]

it depends on the ICO, I done several ones and its quite annoying..

for example I had to verify myself on Netverify at least 3 times for 3 different ICO!

it would have made sense and save time to make an account just one time woth them instead!