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?
I don't think so because the purpose of KYC in ICO is just to ensure that the investors are not coming from restricted countries. They just need any official id that is recognized everywhere in the world like your passport and all they really need to know is if that if your country coming from still allows you to invest in any ICO.