For exchanges, ICOs that collect KYC information, when are they required to send information to the government.
If I remember correctly, in the US if you make a money transaction, such as through Western Union, or bank, $3,000+, within the same day, or smaller amounts during consecutive days, the institution must collect your ID information and Social Security and report it to the government. I forget which entity of the government.
Does that mean that if one participates in an ICO and puts in over $3,000, that gets reported to the government? Or if you move $3,000 out of an exchange, that gets reported?
As far as I know, a KYC check should be carried out in order to prevent the laundering of dirty money and combat the financing of terrorism. The exchanges and the ICO teams, if they collect confidential data, must keep this information for a certain time in order that any state may, according to the investigations carried out in them, request specific individuals to carry out certain financial transactions. Of course, the state in whose territory an exchange is located or an ICO is registered may require them to provide any other information about their customers.
Campaigners of the bounty campaigns of the ICO should not fall into the category of clients, since they do not invest their funds in ICO projects and cannot be suspected of making the above illegal financial transactions.