To me it's a bit like looking for a problem where there is no problem and looking for solutions even when we don't need them.
But as you point out exchanges already are making it a problem.
this is why self-regulatory organizations are so useful for government regulators. members self-police, for fear of losing their whitelisted status. it's exactly the same with the LBMA and gold. the real pressure to mandate KYC for gold refiners to prevent money laundering, or remove conflict gold from circulation, comes from governments, but the actual
policy comes down from the LBMA and is self-enforced by its members.
the cartel that will form bitcoin's version of the LBMA is obviously being established. BAKKT will be on the list, no doubt. fidelity and any of the legacy financial institutions who get into custody too. bitgo, coinbase, gemini, and similar tier exchanges/custodians would probably make the cut too. i assume platforms like bitmex, binance, and bitfinex will become de facto second tier exchanges. at some point in the future, their coins may be unwelcome on whitelisted exchanges, and depositing them will get your account closed.
) 