I've heard a few mention privacy here, just because Remitano allows you to transact a few bucks in P2P. However, in reality, there is no such thing as privacy anymore when conducting a P2P transaction that involves your bank account. The $75 is a mere limit that can help you avoid the KYC and data leak.
At least the third party ( exchange) has no real data of you, it's just between the seller and the buyer exposing themselves. Still some level of privacy since you can achieve that with stolen emails and phone number/ bought numbers
This didn't start with crypto, well-regulated financial services in fiat do that. And some can be as high as $300 or more, depending on your country.
Because you already given them 98% of your personal information during registration ( BVN, phone number, Names, house address and a static photograph)