Why some ICO required KYC?

[RadioYo]

It's a regulatory issue.  It's not just KYC.  It's KYC and AML.



https://imagizer.imageshack.com/v2/640x480q90/924/83FoS8.jpg

[bubblebubble]

Many ico are starting requesting KYC also to Bounty hunters even if the revenue generated is not a pure investment.
I don't understand this logic.

[malinda92]

Many ico are starting requesting KYC also to Bounty hunters even if the revenue generated is not a pure investment.
I don't understand this logic.

I think they doing it to avoid scammers to make multiple submissions, so it's good to other bounty participants & project it self!! 
   

[bubblebubble]

Many ico are starting requesting KYC also to Bounty hunters even if the revenue generated is not a pure investment.
I don't understand this logic.

I think they doing it to avoid scammers to make multiple submissions, so it's good to other bounty participants & project it self!! 
   

I agree with you but I think that this is a work of bounty admins and cannot be delegated to the KYC

[Dhanushka]

KYC means Know Your Customer.. So new ico's gathering information before selling. Then they can prove their tokens won't use for illegal processes.

[Dhanushka]

It's a regulatory issue.  It's not just KYC.  It's KYC and AML.

I don't get you my friend. What do you mean by AML ? Is it about anti money laundering ?

[Ancient skills]

It looks like it helps to get a listing on good exchanges where KYC is required.

[cutikanzilong]

Each ICO has its own policies towards its investors. There is a policy that prohibits investors in a country to follow its ICO. Therefore the function of KYC in my opinion to see the data for investors and do not violate the rules made ICO. But behind it all there is a downside, that we are all worried about our data that may be misused

[kimochidesh]

There are many reasons for this:
1.    If an ICO can demonstrate proper KYC then it will be possible for all parties to establish credibility with banks and follow Anti-Money Laundering regulations. Voluntary compliance thus gives a project and its participants a stamp of legitimacy with regulators and banks.
2.   Cryptocurrency exchanges are beginning to exclude cryptocurrencies that did not properly implement KYC processes. Thus, not running such checks poses a long-term risk to a project.
3.   Voluntary KYC compliance may help ICOs reach a larger global audience and expand the number of jurisdictions in which they can take place.
4.   To avoid the creation of fake ICOs.