venmo rendomly started requiring stricter KYC for crypto transfers

I usually get money from venmo, transfer it to btc, and transfer it to cake to ... But I tried recently and now its requiring a face scan and ID verification. im not sure if its new regulations, suspicions related to my account, or the amount im trying to move.

even though ive done the same for my actuall wallet app, I feel sceptical about doing it for venmo, because venmo would serve as a luxry of info that can trace back to me, as the whole platform is based on person to person exchange.

if there is any other way to secrete my crypto, let me know, otherwise, should I go ahead and follow the new KYC standards?

i dont actually use cakewallet, but I dont want to reveal the platform I use

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that is what is happening across the board for fintech companies....kyc is becoming the standard...even the non kyc platforms have the ability to hold and require kyc in their t&c...with ai being used for security systems any transactions of any value will be held for kyc....even long time institutional accounts i have have been sending out request to update accounts with broader questions....it crazy the controls are so tight on their algos that any transfer they feel is funky is flagged....following the kyc standards is your own decision....but as far as venmo they know who you are anyway as they are a fully regulated money transfer service that collects and verifies your identity information for aml/bsa requirements.