Curious what others in the room are seeing regarding exchanges continually upping their KYC requirements, especially for active crypto traders moving larger volumes. It feels like an ever-moving target, and balancing user experience with compliance burdens is getting tougher.
It's like they're trying to achieve a perfect record for how many utility bills and selfies they can collect before we're all just trading with ourselves in a dark room. You'd think after the fifth photo of my passport, they'd get the idea I am, in fact, me.
It's definitely a growing pain point. While I understand the regulatory pressures, the increasing layers of KYC do make active trading more cumbersome. It raises the question of whether some of these measures are truly effective or just creating more friction for legitimate users.
It's an operational reality now. The regulatory landscape isn't static, so exchanges are just reacting to maintain their licenses, not necessarily trying to inconvenience users. Most of the burden seems to fall on us, as usual.