Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
That's why I do not participate in KYC because of the risks. There are now a lot of issues about KYC because some of the identity have been sold online. Just stay out to KYC in order to protect our identity.
Not everyone are into data selling. KYC was prioritized by ico projects to keep away investors from few countries as their regulatory compliance is against cryptocurrency usage. There are projects that don't ask for KYC, and these days it is hard to find ico projects that reward good for the promotion done carrying their signature.
Nothing to relate the KYC with terrorism, because if terrorism is happening through cryptocurrency it'll be mere 0.1% while the rest happens through USD.