Which crypto exchange does not require identity verification?

Could you please elaborate on the existence of a cryptocurrency exchange that does not necessitate identity verification? Given the regulatory landscape surrounding digital assets and the increasing emphasis on preventing money laundering and terrorist financing, I'm curious to understand if there are any reputable exchanges that operate without requiring users to undergo KYC (Know Your Customer) procedures. It's important to note that while some platforms may have lax verification processes, the lack of identity verification could pose significant risks for users, including increased exposure to fraud and the potential for law enforcement actions. So, I'm interested in learning more about the legitimacy and safety of such exchanges, if they indeed exist.