exactly, asking for more KYC/AML information will never stop criminals from doing crime, it never did in the first place to begin with.
they are just making things harder for regular people with this shit.
It's weird how they got everyone to believe that getting more strict KYC verification on big exchanges would make anything safer.
Anything can be hacked these days, I remember few years ago the case of Bisq hacker that stole $250,000 because of faulty security patch.
Weak security is the main issue exchanges should address, not punishing regular customers
.
As far as I know, every service involving FIAT money requires quite deep KYC/AML procedures, yet FIAT is the most commonly used method of committing scams and illegal activities.
There are still exchanges and service that involve FIAT currencies and they don't have any KYC procedures.