Knowing your customers (KYC) is a controversial topic when it comes to privacy standards in the World of Crypto. However, it serves great importance when unabused. By knowing who their customers are, companies can help prevent crimes such as money laundering, bribery and corruption, fraud, identity theft and terrorism. KYC is designed to filter out those individuals with no real interest in the ICO and only care about laundering their money so that it is hard to trace its true origins. https://medium.com/@XIF_Official/the-importance-of-kyc-in-the-crypto-world-a40ff02b8d57.