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?
yes, that is for sure. Some exchanges require that the account creator can only trade 1 BTC per day. if more than that number, they must implement KYC. But our KYC does not need to be sent to the government. They store our KYC to assist if something goes wrong.