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There is a large amount of people left behind by the traditional finance system -- labeled as untrustworthy by being from the wrong country, or involved in businesses that institutions find ethically questionable -- and who are only able to trade thanks to crypto.

Unfortunately at some point, they still need to convert the crypto to cash.

It's therefore not surprising there is a black market for this.

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> they still need to convert the crypto to cash

And this gets trickier each time you do it. Eventually you end up literally with duffel bags full of unwashed notes being traded publicly in the ever surveilled New York.

There are a lot of legal brokers that do it, established in different jurisdictions, with a spectrum of how strict they are with their KYC processes.

Obviously, the less stringent they are, the worse their prices are going to be.

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