Well, with their expertise. I believe they are capable of securing our personal details without anyone can see or steal. Let's just be positive and trust the team because they only want a better exchange for the crypto world.
KYC is needed for exchanges like this to reduce the risk of money laundering acts and can minimize the criminalization or stealing other funds from another user of the market exchange. This just to secure both the exchange and the user of the platform.
That is right. KYC is an important procedure that is a requirement by the government against money laundering. So Xbrick should really comply with this regulation to avoid any conflict with government.
Every business that are dealing with money are obliged to comply with these regulations to avoid trouble from the regulators. In fact, being a law compliant will be easy for Xbrick to get in to the market. If Xbrick will have a solid legal structure, then people will look at the business as a secure and definitely in a goin concern.
Money laundering and terrorism are the main reason why skepticism about cryptocurrencies are still a common issue. By avoiding this, exchange platforms do now require identity verification so that criminals won't be able to do their dirty job on our world.