Quote from: ahmad21 on March 12, 2018, 10:51:50 AM

I think the very first argument is something you just can't accept. I understand cryptos have that basic idea of anonymity and all but still whatever you say it doesn't really has the capability to turn the whole empires. You can expect cryptos to be used in normal day to day procedures but obviously government wants your data to keep every kind of control on you. The second point is just the biggest argument against this KYC scheme. There is probably no security measure that ICO owners take to keep a check on the security of KYC data so its a big concern.

Governments keeping the KYC data and ICOs asking for KYC data are two very different scenario. Government is the owner of your KYC data because they issue your ID cards, so they ask for it, it's normal because we are assured about its security. But when an ICO does the same, there is a concern because we don't know about the identity of the ICO owner, neither we are sure about the usage of those KYC data. Identity theft is a big crime and can lead anyone to a big mess.

Quote from: Harlot on March 12, 2018, 11:36:02 AM

Experienced it in the past, before they say that immediately after the TGE happens everyone who bought in their ICO will receive their tokens. But after the TGE happens they announced in their website as well as their Telegram group that they will instead manually distribute their tokens which they are now requiring KYC, this is a really big catch in which they have not announced it earlier. Basically what happens is they are trapping you with only one choice as if you don't give your information and necessary requirements they are talking about you wouldn't receive your tokens you have bought from them.

Quote from: warrior333 on March 12, 2018, 04:16:27 PM

Changing the rules after the game is wrong. For me it is a sign of a Scam. Probably the tokens of such ICO will not have prices. So you won't lose much if they don't give you tokens. But it seems to me that the duty to fight crimes is the duty of the state. ICO and cryptocurrencies don't have to accept the rules of this dirty game. KYC rules should not be accepted in the cryptocurrency community.

These are signs of scam and unless someone have bought significant amount of tokens, they should accept the loss instead of trying to get the token by providing the KYC data. Because if a company is not upfront with their communication, they don't have any business ethics. They are likely to mess up big time at any point of time. So your investment will be gone in any ways.

We need to have services like Jumio or Onfido in this field. Where the investors will verify their identity and get an ID number. Now they can pass on that ID number to the ICO companies they are investing. The ICOs will be assured about the identity of that person but will never have the documents in their hand. That is one solution that I can see to overcome the KYC risk as of now.