What happened to local bitcoin trading site..do to the sudden implementation of KYC procedure regular traders getting shocked with the limitation of LBC trading... already we facing various issues from government sides, then the sudden KYC implementation gives negativity so the traders are decreases day by day. Finally the KYC procedure not user friendly, If we produce the right id proofs then also getting rejected. If it continues we dont no what happen to LBC next?
As far as I know, all centralized local exchange are really requiring their clients to submit KYC. And I don't see any wrong with it, unless if the client is using dummy or you are hiding your real identity, well if that's the case there is a problem for Him/Her to submit KYC. And its normal for centralized based system to implement this KYC to prevent scammer and to protect their users too.