KYC is just whast the government needs to know your information. They know how much you trade they can control your funds, this is simply a way to control you through an exchange.

You don't need to participate in this. People need to realize that KYC also means no control of your funds and oversharing all your data, you can trade without KYC in Switch.ag for instantly trades or actual DEXs like SwitchDex.ag. Also don't trust all the DEX that are out, recently idex went kyc and more to come out soon. Be careful in this market.