Quote from: Tylev on May 06, 2019, 05:10:57 AM

Quote from: CryptoBry on April 29, 2019, 08:15:39 AM

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.

You must really be a legal adviser, and if you are not, I guess you are yet to discover your God given talent, please ask them again on what legal base are they doing this? The same law that does not fully recognize the use of cryptocurrency yet for businesses, the same law that is hunting and closing down some exchanges, I really dont know where they got such selfish idea from.

These people wants to protect themselves and yet they dont consider the protection of people that they need their money and services more, it really does not make any much sense with these KYC scheme and should be abolished as soon as possible.