KYC is done by most projects to comply to the government regulations. The projects are sometimes held accountable for transactions hence must be able to provide the identities of the individuals behind these transactions in order to avoid the issue of money laundering. KYC is also for verification purposes by the project in order to eliminate bot and double entries from participants.
but crypto or ICO didn't regulated yet by any government.so in my opinion we didnt need to pass kyc if the reason due to government regulation.this condition could work if they have some rules and regulation in their countries.