In all fairness, it isn’t exchange that is requiring these personal details. These exchanges are following the guidelines of FINCEN, a United States government agency. Without following these extrodinary rules and procedures they are subject to serious penalty.

These rules (KYC and AML) are preventing many small startups from competing with large commercial banks. What the crypto-currency community is doing is starting businesses in countries like Singapore, where the barrier to entry is easier and not too burdensome for a small group. Unless the rules are changed to allow technology to blossom freely, the United States will be passed over and will not be a major financial center in the crypto world.

Thanks for giving Ethereum a try.