You could have avoided many of the comments in this thread if you didn't emphasize the no-KYC part in your OP. The grin smiley for the no-KYC category makes a lot of sense because it is a joke to claim something like that. You are a no-KYC exchange only on paper. In reality, your terms sate that users will pass through AML/KYC procedures from time to time or if required. On top of that, you partner with other exchanges that also require KYC and have their own filters and understanding of what requires further checks and what doesn't.