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?
Sometimes I don't get it, ICO will ask to do KYC but eventually disappear after the crowdfunding, they are scamming you two times, with your money and with your identity, they steal your money and your identity, I will say no to any KYC in any ICO 90% of these are scams, they are doing this to make them looks real and looks compliant to the government.