People use Crypto for anonymity. Why to use US based exchanges that ask for documents then? The new breed of exchanges will soon rule.
Yeah sure one of people intention to use cryptocurrency is being anonimous. but, trading/exchanges platform need to do KYC for risk management includes krakken dan coinbase (US Based Exchanges).
KYC process will help exchanges platform to mitigate the risk of being intentionally or intentionally exploited by scammers/criminal in order to do illegal financial activities. so its a prevent action to against criminal activities. But, it's commonly make pro and contra for it.
good explanation . kyc dont look bad if we will explain it clearly and understabdable for the reader and to those that dont know if what is kyc and why it is needed .
@WinBitcoinsCasino . what new breed of exchange . decentralized exchange dont need a kyc and they are not new . you are allowed to use it if you still dont like to use a centralized exchange because of kyc
I think we all know the reasons behind KYC verifications, that does not mean we have to like them especially in a market that even now is composed mainly of people that care about their privacy and do not want to expose all their information for everyone to see, so as these kind of policies keep getting stronger and stronger this will lead people to begin to use decentralized exchanges, which I think I is a good thing as this will finally begin to reduce the power of centralized exchanges which are simply too powerful.