Although it is possible to send tokens on a non KYC exchange, Americans should think twice about doing so. It's a huge risk.
A non KYC crypto exchange is a platform that does not require users to complete a "Know Your Customer" (KYC) identity verification process before they can trade or access the platform's services. This means users can trade cryptocurrencies without providing personal information, which offers more privacy and anonymity.
The FBI warns US citizens to engage only with registered crypto platforms that comply with AML and KYC regulations
The FBI warns Americans against using cryptocurrency money transmitting services that are not registered as Money Services Businesses ( MSB ). MSB registration is federal law in the United States. There are also laws requiring MSB's to adhere to anti-money laundering measures, such as KYC.
The FBI also warns that users could lose their money if it is mixed in with money involved in a money-laundering scheme. Read more on the the official FBI Warning,:
"Alert on Cryptocurrency Money Services Businesses" (https://www.ic3.gov/PSA/2024/PSA240425#:~:text=The%20FBI%20warns%20Americans%20against,to%20anti%2Dmoney%20laundering%20requirements. )
Even if you do use non KYC crypto exchanges, most tax offices have released clear guidance that crypto is subject to tax - and any attempt to avoid tax on cryptocurrency is tax evasion and a criminal offense with steep penalties.
Regulatory risks: Governments worldwide are monitoring non-KYC exchanges, and it is just a matter of time before they are made a subject of law. If regulatory agencies identify individuals transacting on these exchanges via their crypto wallet addresses, these users may face stringent legal challenges.