Local exchange should do intensified KYC so as to avoid the system of cryptocurrency being abused by other members as well like money laundering, funding of terrorist groups and others as well.
This is a very interesting point, most exchange has no license, no physical office and are anonymous, so you see someone inside the garage of your house creates an exchange and asks their customers to deliver documents to comply with KYC, the people are suspicious and do not deliver these documents. the biggest problem is that our exchange is not serious services
the question is would favor to do KYC on your local exchange?
Well, sometimes KYC can be very annoying, I've already checked my neteller and skrill accounts and have already delivered a lot of documents and today they have asked me for more documents and see that I only move $200 in those accounts.