As the name implies, this law only applies to (financial) businesses and their customers. Most Bitcoin transactions are P2P and hence there is no business/customer relationship and hence there is no KYC law applicable.
> Most Bitcoin transactions are P2P and hence there is no business/customer relationship and hence there is no KYC law applicable.
That's a bit of a nonsense statement. It's a P2P payment network so you have no way of knowing if most of the transactions going across it are between businesses and customers or person to person. Quite simply that's a claim you can't back up.
As the name implies, this law only applies to (financial) businesses and their customers. Most Bitcoin transactions are P2P and hence there is no business/customer relationship and hence there is no KYC law applicable.