KYC is not good for decentralization, it compromises the idea behind cryptocurrencies IMO. Crypto must be anonymous. When you go through the KYC process it's like a cashier at the grocery store is fumbling in your wallet and makes a copy of your id.

On the other hand, I understand it's a matter of security, to avoid money laundering etc. And there is a chance we are not ready for full decentralization and anonymity yet.

I am strongly against KYC for numerous reasons. But like I said, I understand why companies implement it. If you are an ICO contributor and you know you have to undergo KYC from day one, it's fine. It's not fine when they only implement KYC after you have invested in the project. This is what Tezos Foundation has done to its contributors.  If you are also Tezos investor who doesn't like this change of terms, or if you generally  stand against KYC, join the chat https://t.me/XTZstopKYC Together we can upgrade the protocol and cancel the KYC check. It will also be helpful if you share the link. 

How do you know if the company actually conducts KYC involving lawyers or special agencies or just collects documents to then hide with them?

Know your customer (KYC) alludes to due persistence exercises that money related establishments and other controlled organizations must perform to find out applicable data from their customers to do business with them. The term is likewise used to allude to the bank control which administers these exercises.

I highly advise against sending personal info to shady icos. Even less so your coins... We need some kind of reverse KYC. It is not the customers who should be validating themselves but rather the ico itself. Otherwise who are we protecting?

Do you mean after you have made your payment?

In other words - government collect your investment data

HURRY UP DECENTRALIzED KYC/AML!!! then I will agree with this thread

As in this article, it is inevitable that measures to deal with money laundering and KYC will be strengthened as future encryption currencies are developed
Cryptographic currency must be accepted by governments and businesses in each country

https://news.bitcoin.com/bithumb-coinone-fiat-withdrawals-crypto-traders/

I think that the market further develops when proper regulation is made.

I invested in several ICO's this year. With one or two the KYC process was real fast, happened within a few days. With another couple of ICO's it has taken forever. One in particular is now nearly 2 months. How long should it take?

The term KYC refers to Know Your Customer. This terminology is more prominently used in the finance industry or the finance business. It is an activity to gather information from the clients and to authenticate on various parameters to make sure that the client holds a clean record.

The term AML (Anti-money-laundering refers) to a set of procedures, laws, and regulations designed to stop the practice of generating income through illegal actions.

Most of the cryptocurrency exchanges heavily rely on this two terms and have a strict KYC and AML policy of their own to deal with frauds and protect their funds. Even if you are planning to start your exchange, then you too have to focus on these aspects, but what if you do not have proper knowledge and expertise to tackle such issues. Under such circumstances, you can opt for a white label solution provider like Ibinex who can tackle this problem with ease and will create a full proof crypto exchange for you in a months time.

For cryptocurrency to be widely accepted in the world today, the place of AML/KYC most not be overemphasis. I can still see some ICO not enforcing KYC for the sales of their ICO. They are not doing the Industry well in term of giving the Industry credibility for mass adoption of crypto. KYC must be a must for the sales of an ICO and trading in the exchanges.