KuCoin is going full KYC starting july 15.
Over time, all centralized exchanges will do this.
The future is with DEX. KYC is incompatible with bitcoin in its concept. Privacy and anonymity, I do not intend to go through the KYC procedure on any exchanges.
Does a DEX offered Fiat deposit? Is there any? Do not know any. So what kind of future is that if average Joe cannot change fiat in BTC anonymous? It is becoming more and more difficult.
But it is not only KYC at KuCoin. They are also looking at the origin of your Bitcoins:
Pursuant to the requirements of the laws and regulations of applicable jurisdictions, KuCoin also collects additional information related to the customer’s business and risk profile. Risk profile data includes nature and volume of trading activity, origin of virtual funds deposited, Lyu added.
https://cointelegraph.com/news/kucoin-crypto-exchange-to-introduce-mandatory-kyc-in-july