Or are there countries where IDs and maybe phone numbers are required before making purchases physically? Imagine how strange it would be to present your ID before buying or selling in physical world. Not sure I've ever been required to present ID before buying or selling, even physical foreign currencies offline. The kyc phenomenon seems to be peculiar to online world and bank transactions.
I think human right to privacy shouldn't be violated in anyway unless the human is involved in serious crimes or some suspicious activities. And even when ID becomes necessary, it should be handled with care to prevent it from going into the wrong hands.
By the way, the kyc issues could make thriving online economically alot difficult for people in certain remote places who probably prefer to have little to zero contact with modern world. This are the kind of people crypto would be more suitable for, unfortunately they will be denied access to lots of cryptocurrency exchanges in existence today.
As a rule, KYC (Know Your Customer) is a mandatory requirement for working with cryptocurrency, and the need for this procedure depends on the legislation of a specific country. For example, in Lithuania, which is considered one of the most crypto-friendly jurisdictions, KYC requirements are strictly regulated. Companies seeking a crypto license must comply with all AML (Anti-Money Laundering) and KYC standards to ensure transparency and security in financial transactions.
We obtained our crypto license through
https://adamsmith.lt/en/crypto-license/lithuania/, and they provided a lot of useful information about how KYC works in different countries. If you're interested in this topic, I highly recommend reaching out to them—they are well-versed in cryptocurrency market regulations.