[toolz]

> it is very likely that they are simply not following my local laws

Places outside of your local jurisdiction are not beholden to your laws.

Also, even you have a third option, which is to just not open a bank account. So again, it's a false dichotomy. Not to mention you could move somewhere that allows non-KYC banking. There are definitely more options than you let on.

[irtigor]

What you said is false, if they are operating in my country (and that is true if they are opening accounts/etc to people in my country) they must comply, it doesn't matter that the server is located in another country or anything like that. About the second point sure if they are not operating from a country that requires id identification and are only dealing with clients from places like that it is true, otherwise they will get in trouble, it is just a matter of time (if I'm not mistaken there are even examples of less dumb crypto exchanges creating multiple entities in multiple countries with slightly different urls so that they can have it both ways).