The KYC requirement in many ICO projects has been the bone of contention of many investors and supporters with many thinking and feeling that this is not needed as this is the industry that proposes decentralization, anonymity and privacy. However, a project can argue that it is the law that requires them to know their customers and they are in fact just following the regulation. The problem is that KYC is not a guarantee that a project can never go down the coffin and run with the investors' money...maybe travelling to the "moon" and have an indefinite vacation in there until the victims can forget their misfortune of trusting them.
Now, if these project owners can require us to undergo the KYC process...should it not be rational that they themselves submit to the same so that we can be sure that we are dealing with real people with real address?
If the ICO team claims that the requirement for us to undergo a KYC check is a requirement of the law, let it fall first which law requires that participants of ICO bounty campaigns pass a KYC check and what exactly is said in this law about participants of ICO bounty campaigns. No team has indicated this yet. Considering that our passing of the KYC check is contrary to the purpose of this check, we can conclude that the requirement for bounty hunters to pass the KYC check is illegal.
Passing a KYC check by the team itself will not have any effect, because fraudsters will provide false information and fake documents. They should be checked by government agencies before launching the ICO and the documents should be submitted by them and in the original.