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.
They don't issuing an ICO that isn't registered with the SEC is illegal anyways, so why are they caring about KYC if what they are already doing is illegal? Well, maybe they're just stupid and don't realize that KYC doesn't protect them. They may be doing it to try and seem more legit as well, which doesn't make any sense. A third and malicious option is they are stealing identities and so that's all part of their scam to get more money.