Cryptocurrencies evolved as an extra-state mechanism in a reaction to the centralised nature of fiat currencies. Privacy of users was at the core of this concept. But, with the spread of this sector, know your customer (KYC) verification, which is a norm in the banking world, has become commonplace. This bothers purists who feel that the crypto world should protect its users at all costs and tech enthusiasts who feel that law and technology may not be on the same page in a blockchain-based scenario.