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?
For majority of the exchange that are centralized based system all of them are requiring their client users to submit KYC to their platform to increase the amount of their withdrawal transaction. But in some ICO they also required only a few of them, still majority of the ico are not requiring KYC.