The problem I have with KYC in ICO is that a lot of these projects are scams. Lets use the recent Hashcard ICO scam for a example.
They ran away with over $4mill which isn't good, but on top of that they have all the investors KYC information.
So what protection does the investor have against their personal information being used by a scamming ICO?
Until there's a regulating authority for ICOs ,then KYC should not be required for the safety of personal data to the investors.
I also support the same point of view. No state has the right to require investors through ICO to pass a KYC check until it itself provides transparency of the ICO, excludes the possibility of fraud from the ICO team. This is possible only if the public authorities, or on their behalf, public organizations, will not carry out an appropriate verification. Because the situation is really wild and paradoxical. The state actually forces investors to transfer their identification data and copies of passports into the hands of potential fraudsters, thereby trying to discredit the ICO process and, in every case of fraud in the ICO, warns citizens that investing in ICO projects is rather risky. How not to say in this case that the state bodies do this intentionally?