In my opinion KYC is generally a threat. There is really very little reason for it except a form of government control. It is not for our benefit in any way and does not help us to improve our lives. It simply puts us at risk and allows scammers another way to get your information.
Yes you are right. 1st of all it was never created for us customers it was created to controll money by governence but it ended with risk only for us. Goverment diesel not risk anything at all...