This may be a huge blow to some formal institution who may want explore the opportunities in cryptocurrency and Blockchain technology but I guess with some exchanges that has P2P features individuals should be able to still enjoy the service of exchanges. Besides, cryptocurrency was originally designed for peer 2 peer transactions
China has banned crypto quite several times,later came back to crypto again & again😑. Maybe Kuwait will be doing so , because blockchain tech is unstoppable.
It has been a norm and I guess government are still exploring the potential of Blockchain tech and prolly a way to regulate it before it becomes legal. Either way it still violate the decentralization of crypto and Blockchain and that's why many traders aren't comfortable with mandatory KYC by some regulated exchanges.
Governments should take the initiative from El-Salvador. They've regulated & implemented crypto. And Yeap, there are very few reputable CEXs like Bitget/Mexc/BingX are available where we can get almost all features without going through KYC!