Do you even know the difference between Centralized wallets and Dec wallets? Days back I lost my coinbase account and the team aren't helping, I'm glad I only have little Bitcoin on the account, would have been a different story if I use coinomi or atomic wallet because they give users 💯 control over their funds, private keys and recovery seed are important, always remember that
Example of Centralized wallets
1. Coinbase
2. Nexo
3. Luno
4. Xapo
5. Freewallet
Any wallets that ask you create an account with mail and password is centralized, they monitor your private keys for you, be smart
What do you think about a wallet exchanger like bnb? do they use a centralized system?
Regarding the wallet you are talking about, that is, it is true that there is identification of asset monitoring, on the other hand this also has benefits for users who often forget. I mean here that because users register with email so the wallet has a "forget password" feature to open their account. I think trying to see things from both sides is a good thing.