KYC most likely to be implemented for exchanges and any business acting as a "broker" per 2023 USA regulations

Under IIJA, a digital asset broker will acquire information similar to “Know Your Customer” (“KYC”) in banking, which would include basic data like name, social security number or EIN, address, etc. Third-party reporting of cryptocurrency transfers is expected to improve tax reporting compliance of these transactions resulting in additional revenue to help fund the IIJA spending. Some cryptocurrency investors may be avoiding reporting taxable income from their transactions, and third-party reporting will help the IRS identify these taxpayers. As the industry grows, third-party reporting will assist many more taxpayers in correctly calculating their taxable income. Currently, some central exchanges (i.e., Coinbase, Binance, Kraken, Gemini, etc.) do not provide consistent or easy to follow statements, especially when compared to consolidated Form 1099-B brokerage statements from traditional finance brokers (i.e. Charles Schwab, Principal, Fidelity, etc.).

You should read the article for the full details.

Obviously, this applies to people that are subject to USA taxation.

The wild west days of crypto currency are changing and Uncle Sam, "He comin'."