Good call, I would assume so. KYC helps prevent money laundering, bribes and a ton of other illegal transactions. Eliminating it would line up with other actions performed by this admin.
I'd prefer if governments would take a step back and invest into enforcing actual crimes themselves and not just stick with money laundering charges because these are easier to prove. It was already bad under Al Capone (who got nabbed for taxes instead of murder), and it's way worse today.
Now, the police seizing money is different, but the police are the police. They can do almost anything they want, and you have next to zero recourse. Of course, they're going to abuse this and steal your money.