I'm guessing part of the waitlist requires an application where they gather info for fraud prevention.

I'm sure you'll need to enter PII to send and receive payments -- MSFT doesn't strike me as a BTC operation. Money laundering is illegal :).

What info can possibly prevent this fraud though? Even the real large projects could ask friends and family to donate 5k that they gift back later. It's so easy/undetectable to do it's just leaving free money on the table.

Interestingly enough, Microsoft sponsored issues using GitCoin and paid out bounties in Dai.

Microsoft's lawyers?