But what we have today is Bitcoin that is increasingly becoming another central bank.
Bitcoin is decentralized, but service providers such as exchanges and Wallets are privately owned (centralized) and must comply with government laws. Only good bitcoin laws can create good conditions for people to feel good about doing KYC and having their data protected.
There is a serious problem with this question of KYC. Why the hell should people do
KYC in an exchange where the owner is anonymous and has no license? It makes no sense that an anonymous, non-government-licensed exchange requests that your customers make KYC
theres really serious prob in that scenario! why would they ask kyc in the first place? but for the users, if the exchange will screw them, they dont have to complain because they should know who they are dealing with to begin with
i accept the fact that we need to comply kyc at a certain level. but for small amounts, i dont think its fair to even submit our vital docs