On one hand, KYC can help prevent fraud, money laundering, and other illegal activities. It can also provide a sense of security and transparency for users who want to know who they're trading with and ensure that their funds are safe.
However, KYC can also compromise anonymity and privacy, which are often highly valued by cryptocurrency users. Some argue that the need for KYC goes against the decentralized and borderless nature of cryptocurrencies, and can even put users at risk of data breaches and identity theft.
Interesting facts you've raised here, it's nothing out of the ordinary but, your presentation is just precise and definitive on the matter. Good thing you have a hang on the issue but, its really no much issue.
Every system has got a downside and this isn't expected to be any much different. Its more of you having to size which is more to you at certain points. Why KYC has been such a troubling thing for most is because, we operate an online platform where the whom we do not know.
That's why it remains an issue of trust before using a platform and the options to KYC is always left with you.