In my case, it was a fully regulated and licensed exchange service. Whom he could very easily take to court and most likely win the case with additional big costs for them. In doing so, they might risk the license issued by the central bank.
Oh yeah the difference is obvious, of course.
Once more, I will quote Loyce, who explains it perfectly here:
I'm (up to some point) okay with centralized but well-known and regulated services (be it casinos or exchanges) that require KYC. I'm also okay with completely anonymous but trusted services that don't ask for any personal data.
Problems start when unregulated exchangers demand personal data after depositing, which many exchangers seem to do. We need more trusted exchangers, not less.