Quote from: pitiflin on June 19, 2018, 10:32:11 PM

Quote from: Cryptofan12 on June 19, 2018, 09:14:57 PM

My question is regarding a scenario where you purchase tokens from an ICO during a time when your country is NOT on the prohibited list, you receive the tokens, and then shortly afterwards are contacted by the ICO company notifying you that your country is on the prohibited list. You passed KYC and this company disbursed you tokens. They want the tokens to be sent back for a refund. You're thinking that they are trying to cover their asses legally as it is illegal to have sold you these tokens. I'm just curious whether anyone could provide any insight into this situation. It's strange because you already HAVE the tokens, and they have accepted your money in exchange for them. They processed this transaction. Could they force you to return these? I've never been on the other side of this transaction (trying to run a company and avoiding legal trouble) and hoping for some context.

Are they going to issue the refund regardless of whether the tokens are sent back to protect themselves?
Who has leverage in this situation? (ICO vs. participant)

All input is welcome!

Firstly, why would you even give your KYC for an ICO? Are you ~~crazy~~ stupid?

You can sue them if you want to, or you could just ignore them and not refund them their tokens.

The participant has leverage in this situation, for one main reason, they never stated that if you live in a particular country, you're not allowed to participate in an ICO. So you have the bigger hand here, and a piece of advice: Don't give your KYC to anyone. Did your parents not tell you that you shouldn't accept chocolates from strangers? Well, this situation is much worse. Sad

Most of ICO right now need KYC if we want to be participate in their project, I've even encountered more complicated cases, so initially the ICO does not require KYC, we already bought it but the token is still in the website platform. And a few weeks later there was an announcement from the ICO that the participants had to fill KYC to get their tokens into their ETH wallet.

Since this cases, i stop following on ICO that needed KYC.