(I could be wrong here, but ...) The 2BTC isn't a big a problem as the KYC. I understand KYC, but it is a 2 edged knife. You are giving your dox, to who, exactly? What are their security measures, how likely are they to get hacked, sell your dox, etc... What guarantees are they offering, and do you trust them? The point of this - to me - is TRUSTLESS relationships. How will that fly with traditional regulations, and relationships ... not well, but that is the point - or atleast one point.
any guy who tells me he's about to keep my security his 1st priority is trustless by default.
why ? because i didn't ask him to, lol
i mean crypto was designed to be self-sustaining, self-securing mech,
providing financial freedom and anonymity, not just another "asset" in the matrix
It's because they're handling FIAT... however they're located outside the US so the KYC requirements would have to be adopted by New Zealand in order for them to be mandated to follow this... that or their owners may be American and/or in the US which would allow the SEC to push them in that direction.
Anyway, I've requested a coin add on FreiExchange. Since they don't handle FIAT transactions it should be relatively painless. Ticket # is 691103