KYC is hypocritical because it only applies to common people.
The master minds of criminal activity and the banksters have all the financial
and legal means to avoid that shit in the current FIAT system.
There is absolutely no need to have KYC for crypto.
Crypto was intended to get rid of that bullshit.
Until we have a true decentralized exchange we are stuck with that bullshit
terms and condition imposed by central exchanges.
I see Binace has hired some guy
I expect they will soon lower the withdraw limits for no KYC users.
Currently is 2 btc which is enough for most of the common customers.
I hope they will not play sneaky games when it comes to it and that will warn users in advance
giving them chance to withdraw before this gets implemented.
When it comes to central exchanges people should not trust them to much.
Is very risky to keep funds there.
But exchanges have this dirty policy of rising withdraws fees “due to blockchain congestion”
so majority of people keep the funds there.