Why KYC needed for ICO ?

[jlanzago]

Because it is important not to accept dirty money in ICOs. They could be used as a means of investing illegal money, or even as money laundering. Also there is legal pressure from exchanges, since they also need to do KYC and apply AML regulations, they ask ICOs to do the same, or otherwise no chance to get listed afterwards. It is important to have a clear understanding on the origin of the money that is getting invested in your ICO, otherwise you may face issues.

[l10no]

With KYC we can find out who invested in a crypto project, if we do not use KYC, then in the fear will be misused by such bad people for money laundering and other practices

[miyaka26]

I don't think that the ICO required KYC.  moreover, I think that your data can be used by scammers.

That's the other way around if you are going to participate on an ICO that is full of scammers of investors and identity theft, you should really be careful from choosing as you can put your money and identity at risk, KYC purpose is really good but the downside of this policy has its own risk to mind and take care of it, Choose the project wisely, you can't trust all the people on the internet.

[ven7net]

KYC is not a novelty and has long been used by companies and projects of other directions. At the same time, more often KYC is needed to participate in the ICO. All this happens as the regulation of cryptology begins and many countries have passed the relevant laws on which in order to make investments it is necessary to confirm their identity for determining the country of residence and from this it will be seen whether you are allowed to invest in ico in your country.

[9000]

Because ICOs are trying to prevent themselves from the possible future issues with organizations like SEC. We don't even know how the crypto adaptation process will go on.

[barhavsky]

KYC is needed to know the origin of funds obtained at the time of ICO so as to avoid money laundering through ICO.
If we do not do KYC then we do not know where the money earned at ico then all countries also prohibit money laundering.

[acener]

Initial coin offering has been quickly emerging as the new fund-raising method being used for launching a business. Recently we have seen the requirements of KYC for ICOs are increasing. And many investors are not supporting it. I want to know why exactly do ICOs need the requirements of KYC.     

Kyc is required by some ICOs because it is a way for them to know who their costumer and investors are. I believe that it is important for them to avoid duplication of accounts for bounty hunters and to secure the identity of their costumers. It is just for security purposes and I see nothing wrong with it.

[NaXxow]

As part of regulation in different countries, ICOs are doing KYC. I think it is a good thing to do, not only for legal reasons, but also to prevent unwanted manipulation of coins.

[septyadf1]

No one disagree to use the KYC. People should also understand the risk you are taking by giving up all your information. If ICO want to complete the KYC. Just pay for a well known third party company to complete it. ICOs are raising hundreds of millions should be able pay for it.

[Neutrality]

In my opinion, it is really good if ico owners passed kyc procedure. Because then I feel much safier about my funds.
For example, Remme ICO owners have passed kyc procedure on icobench.com. they also have a good team and partners. Have a look at this

[elncrow]

Probably, KYC needs ICO so keep its work safe for its customers. But, in the long term it may do great as it'll recognise the criminals in the future.

[croptodic]

Many investors are confused with the idea of KYC that if they are going to keep the data personal. But yes, it is also expected that, the incidence of criminal activities will lessen by using KYC. That is a good side to this initiative.

[dmamigo]

KYC and AML policy is the cause I guess for recent KYC mandate while investing in ICOs. This also boosts their image, also makes it more legal. But I doubt each and every ICOs motive and intention, as there are many scams in the ICOs. I just fear about any leakage of personal information, unless its just a legal and normal process.

[cryptoroi]

Basically ICO needed KYC to know about their investors like who they are and where they from and if there any illegal stuffs is doing by them or behind them.

[bct9t]

KYC stands for know your customer. I think the ICO need this so that they can know their customer formally and help them accordingly. I don't see anything wrong here until they are keeping the information safe.

[alex7308]

This is necessary because ICOs are considered illegal in many countries to avoid problems with the law projects are asked to undergo the initialization procedure of their investors. Not all investors want information about their investments to be publicly available, so they refuse to participate in such projects and invest their money.

[Bttzed03]

Initial coin offering has been quickly emerging as the new fund-raising method being used for launching a business. Recently we have seen the requirements of KYC for ICOs are increasing. And many investors are not supporting it. I want to know why exactly do ICOs need the requirements of KYC.     

Mainly for regulation purposes. Each country has their own policies when it comes to investments.
This may also serve as a protection for both the project and ICO participants.

[sunshinelavapie]

I don't understand why some ico need KYC of bounty participants . What do  they need in those people ?. because they are not direct investors

[Spec_tro]

I'm aggree with ico must know the consument but if every join ico we must upload the id from us, our id will not safe

[Baxta]

Initial coin offering has been quickly emerging as the new fund-raising method being used for launching a business. Recently we have seen the requirements of KYC for ICOs are increasing. And many investors are not supporting it. I want to know why exactly do ICOs need the requirements of KYC.     

I can only assume that teams register a legal entity for their project in a particular country. And the legislation of this country requires mandatory identification of investors.