I didn't know what KYC stand for, I initially tought it was something like "know your customer so you can provide better service" or something like a marketing deal or something

Apparently it is not. Well this sounds too much like George Orwell's 1984, why do you need to "know your customer" in this sense, I am fine with facebook collecting info about me so it can send me advertisement but collecting info so you can share with goverment doesn't sound that good, I am fine with advertisers, not so much fan of goverments.