Very true. I was initially under the impression that compliance was pretty widespread. It's the opposite really. Many dozens of monitored countries fail to implement the majority of FATF rules. This is decades after these standards were initially put in place. Often times, a mere pledge by a country to work towards implementing some of the standards is enough to stave off FATF pressure for years.

That means we'll probably see non-compliant exchanges persist for many years. My biggest concern is how compliant exchanges will interface with customers who send coins from non-compliant exchanges.

Let's say BitMEX continues their no-KYC policies in the face of these rules. What happens when you send a few bitcoins from your BitMEX account to your Gemini account? Will Gemini close your account? Seems possible to me.