Clearly banks follow AML/KYC regulations.
But every bitcoin exchange (Ethereum exchange) I've seen has registration requirements that are far in excess of any bank I've used.
- Gemini requires your username/password login for your bank's website (extra LOL)
- Kraken requires persistent access to your webcam
- Coinbase requires selfies
And at the other end of the spectrum, Venmo requires even less than a bank.
What is a better exchange that I would not be embarrassed to recommend others to?