Post
Topic
Board Altcoin Discussion
Re: Do I need KYC for generosity?
by
levvv
on 27/11/2018, 01:26:13 UTC
Recently, more and more arguments have arisen that ICO generosity campaign participants really need to be tested by KYC in order for ICO teams to provide information that their tokens are distributed to specific people. In my opinion, this generally sounds like something stupid. Who and why should the ICO team provide such data? Tokens are not much different from any other product, and stating that merchants need to know who they are selling is stupid.
You welcome the situation when we go into the store and in order to purchase any product and we will be asked to first fill out a special form with your confidential data? Do you think that this is different from the situation with cryptocurrency?

I don't think there will be require KYC for utility token. But if the ICO company want distribute the security token, all of the holders will have to submit their KYC due the regulations of the company's country. If you are a hunter, you must do your research before choose a project to participate.
Otherwise, you will only giving your KYC to the scammers for free because the project is fake.