In addition to what others have said, usually they have legal experts who they seek advise. So at the beginning there are ICO which doesn't require any KYC's but when the tokens are about to distributed, other's suddenly asking for KYC's just to make sure that they are following all regulations and they need to adapt, otherwise if might have a big implications later. Its just sad though that it was not intimated at the very beginning so that investors or bounty hunters not comfortable sharing their personal data will not invest or join that ICO project.
ARe you saying that most ICOs dont start with KYC and AML; they do it later?
Look at this, TV-TWO Signature Campaign: (
https://bitcointalk.org/index.php?topic=2884232.0). No KYC was mentioned when they started their campaign.
And then their token bounty campaign can be found here; (
https://bitcointalk.org/index.php?topic=2617590.0)
Bounty has successfully ended. Thank you everyone for your support!Dear Bounty Hunters,
We have received an updated opinion from our legal council that urges TV-TWO to perform KYC on all individuals and companies that receive our tokens. While this is nothing new concerning our investors, it does come as a surprise to us that this also covers any entity that participated in marketing and bounty activities. The change comes in light of new regulation that qualifies transferring tokens to sanctioned parties as aiding and abetting in criminal activity.What does this mean?
We need to ask any bounty hunter to complete the following KYC form on the TV-TWO website: https://tv-two.com/bounty.html.During the process, please enter the same Ethereum address that you have used in the bounty spreadsheets. Once your KYC is reviewed and approved, we will transfer the tokens that you have earned during the campaign to your wallet. Distribution starts on August 24.
But at the last minute specially when bounty hunters are waiting for their payments, they posted that so many bounty hunters are confused and disappointed because we all know that most of us doesn't want to give sensitive information like our passport.