And on the other hand, what is expected doest suck or should not suck since it was expected, it's not coming as a surprise to anyone that already before now, know that centralized services that deal with money is mandatorily required by regulators to know their customers true identities as a way to curtail and prevent fraud and other vices of monetary crimes.
You do realise that most of the crypto community detest KYC with a passion, don't you? This is why it sucks even if it's expected regardless of what you think. Decentralisation is one of the key components of cryptocurrencies.
Also, KYC does help prevent crimes, but it is also used to commit crimes(Private information spread online, Casinos using it as a stalling tactic etc) which is why it's a double edged sword. Think!