KYC, short for Know your Customer, is what businesses need to do in order to verify the identify of their clients. Usually, it is required by financial institutions like banks, credit companies and insurance agencies of their customer to ensure that the latter is not involved in any financial crime. But I would rather that ICO companies require this BEFORE, not during or after ICO to avoid troubles on the part of the investors. Com'on! Investors threw their hard-earned money into the ICO, then for the reason of not passing the KYC procedure, they simply can't get the tokens which they purchased. Isn't it fraud? Then why not conduct the KYC before doing any business with them? If they fail, then at least, the company doesn't owe them anything. Yeah! Companies do refund, but the effort, the time and the expectation that they're getting the token they want, then all of a sudden, they couldn't. Isn't it annoying?