Behind each project, if it is not truly decentralized, like bitcoin, there is a project team, interacting with which the government can demand the information they are interested in. And given that many exchanges require KYC, then almost any coin in this case can be considered as a CBDC, which is controlled by the government.
That's certainly true, mate. Projects with a publicly-known team are often targeted by governments themselves. As a matter of fact, KYC can be easily enforced when centralizing factors are in play. But when decentralization prevails, this no longer becomes possible. It was a good thing for Satoshi to never disclose his/her identity or Bitcoin would've been doomed by now.
One thing for sure is that Bitcoin is the only decentralized cryptocurrency in the world since its founder is widely anonymous. Not only that but some members of the developer team are anonymous too. This is different from Ethereum where the founder Vitalik Buterin is widely known by the public. The inception of stablecoins and the ever-rising market dominance of centralized exchanges should be a huge concern to decentralization proponents. Most people don't care about decentralization so KYC will continue to be enforced until crypto becomes no different than traditional banking. Who knows if this will mark the end of an era for financial freedom? Just my thoughts
