Australian Home Affairs Minister, Peter Dutton during a counter-terror conference in Melbourne that cryptocurrencies technology is being exploited by terrorists for funding their heinous intentions.
Source: TheCoinRepublicThat's the ugly side of the anonymity function the cryptocurrency. Since it can be used an exploit the privacy features of cryptocurrency. Terrorist can hide in anonymity and freely transacting crypto to finance its plots, That's why AMLC is requiring to do a KYC procedure before anyone can transfer a huge sum of cryptocurrency(money). KYC is the early deterrent option to prevent those to happen. Our world security has changing a lot that's why we people must do something to protect ourselves. specially in terrorism.