I am having some second thoughts too when it comes to KYC but if I really wanted to participate in an ICO then I would just send my verification documents as I don't want to miss the opportunity. Since some ICOs are regulated in the country they are launch, the SEC requires them to have KYC to their investors and even some bounty participants and it makes me believe that they are legit because they follow the regulation. I am still afraid that my documents would be used for illegal purposes so if I am doubtful of an ICO then I would just wait for the coin to be listed in the exchange for me to buy it without the need of KYC.

Sooner or later, we wouldn't have any choice anymore but to follow the rules which is to provide the verification documents for us to continue earning from cryptocurrencies. We are heading towards mass adoption which would need regulation so that the scams would be lessen. I don't care if the government monitor the movements of our funds and I am willing to pay such taxes.