LocalBitcoins needs ID verification?
They have no way of verifying if the transaction ever happened.
They aren't even involved in the actual transaction.
Soooo, why?
Well, something will rise to fill this void.
But, its still a shame.
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Because they can... and because they are not a real distributed platform... =)
This will bring more attention to DEXes too, in the sense of... "they" (the regulators) will try to enforce DEXes to also do KYC/AML, and then it is when things will start to heat up and be interesting... because if the code get's spoofed by anti-criminal laws without the "consent" of the community.. then I would say that that code is NO more... due the simple fact of how distributed open source software works, and how decentralization inhibit the common laws to simply apply.
Anyway... a hole new fun to watch and learn. I am eager for it.