Quote from: Gladz29 on May 30, 2018, 04:46:24 AM

Quote from: zoom_rich on January 09, 2018, 01:29:08 AM

For exchanges, ICOs that collect KYC information, when are they required to send information to the government.

If I remember correctly, in the US if you make a money transaction, such as through Western Union, or bank, $3,000+, within the same day, or smaller amounts during consecutive days, the institution must collect your ID information and Social Security and report it to the government. I forget which entity of the government.

Does that mean that if one participates in an ICO and puts in over $3,000, that gets reported to the government? Or if you move $3,000 out of an exchange, that gets reported?

Know your customer I think its good because that way you can know who is really join in one bounty campaign. But its not safe because their are a lot of hackers, especially whi join and give their personal info and bank account.

Do you think that the KYC check is created, including so that the ICO team knew who joined its campaign of generosity? Are you serious? That is, you think it's okay if you go to a cafe to drink coffee, and you are first asked to fill out a long questionnaire and ask you to attach a copy of your passport to it? Will you say it's great? Require the participants of the campaign of generosity ICO passing this test and a great stupidity, and illegal action. Such a check is carried out only for persons investing their large funds to prevent money laundering. And it is simply forbidden to do this out of curiosity by national laws, and recently by the decision of the European Union.
The client, in this case, is the one who pays. We, as participants in the signature campaign, provide an advertising service for the ICO project and the ICO team pays for it. Therefore, the ICO team is our customers. From this it turns out that not we have to pass the KYC test, and they are in front of us, as they are our customers.