Identity verification is a big problem today for technology companies, financial institutions and government agencies. This task is no less acute for the crypto industry: on the one hand, it is required to maintain the necessary privacy and protect user data from hacking and “third parties”, on the other hand, something must be done with the growth of cryptocurrency fraud.
Many people decide to verify their identity on popular services, but there’re always be users who don’t want to waste their freedom and privacy, and there’re still some services that allow users to stay anonymous in the era of transparency.
One of such services is a cryptex exchange, providing all the services without identity verification. Most likely, in the future there will be even stricter rules for passing verification on the exchange than KYC and ALM, although there are still exchanges without verification.
Despite the long-term goal of the crypto industry to become an alternative to traditional finance, it is forced to play by the rules set by governments and regulators.