I wanted to try paying for Mullvad VPN using a private method (Monero). I created a wallet and went to an exchange (Kraken) to buy some XMR, but they want me to enter all my personal details upon registration. How does this make sense? Is there an exchange where I don’t have to provide personally identifying information?
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They are bound by anti money laundering laws (AML) and are required to Know Your Customers (KYC).
https://support.kraken.com/hc/en-us/articles/know-your-customer-kyc-questionnaire
Yes it does compromise privacy because now when the exchange is asked who owns this wallet they have to hand your details to law enforcement.
Exchanges without KYC are getting rarer.
I avoid KYC exchanges at all cost. I am less concerned about law enforcement in this case and much more about leaks.