I always hated these new KYC and AML stuff. I know it must be some way of preventing money laundering and so forth but honestly bitcoin is an decentralized anon money that we do not want to share with the government.
That's why government stepped in to start controlling the market and the crypto holders! They know people want to hide their actual net worth and government wants to ensure that no one succeeds in this!
So far, I have always ran away from exchanges that wants my validation, even if an exchange allows me to trade only 2 bitcoins a day with no validation I would prefer that to any exchange that gives me better chances of profit. I do not want to share my info with anyone, is that so hard to grasp? Why the forced verification.
Governments want their share of pie that you have cooked or you have a plan to cook! How can they sit idle when their countrymen are earning well and living a good life without sharing a percentage to the government?? I believe IDEX is just complying with the norms laid out by Exchange and Trade Commission. Either they comply with norms or they will be closed down by the government, as simple as that! They are trying to save their business as well as save the funds of their investors, so acting on the best interest of both!