Sometimes i think KYC is no use because how a certain host will determine that the submitted pictures of Documents and ID's are all original that with the advancement of computer hardware of today, it would be to easy to edit the picture as easy as 1,2,3. For me, this is just a waste of time that we don't know that they will just making money of our credentials. I believed shapeshift will reduce their costumers because of this.
Maybe you missed the part about how most KYC now will be pretty good at detecting that and oh, yeah, they're all into live video KYC now. Last two times I gave in to KYC (terrible, yes, I know), got me face to face with some random dude at a desk, almost felt like I was being interviewed, if not for the fact he seemed more nervous than me. All outsourced now most of it. Seems like good business to run an identity verification service.
Just make sure you exercise your rights to request for data deletion when all that's done.
They do guarantee that such request? I doubt that users wont really be granted with those request of such deletion.If they do, then it is really a good thing.
We have the right to ask ICO to delete our personal data, which is called "right to erasure" or "right to be forgotten". And if you're going to look at GPDR (General Data Protection Regulation)
https://gdpr-info.eu/issues/right-to-be-forgotten/I think this law also covers ICO's as well.
The correspondingly-named rule primarily regulates erasure obligations. According to this, personal data must be erased immediately where the data are no longer needed for their original processing purpose, or the data subject has withdrawn his consent and there is no other legal ground for processing, the data subject has objected and there are no overriding legitimate grounds for the processing, or erasure is required to fulfil a statutory obligation under the EU law or the right of the Member States. In addition, data must naturally be erased if the processing itself was against the law in the first place.