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 don't like KYC either because it does not adhere to cryptocurrency principles, but I think it's the only way to know your country of residence because some country ban investing in ICO but it can be manipulated people can submit bogus or fictitious credentials, so it's not realiable.