It's accurate that the US already does it, but that doesn't tell you if we should be doing it.

It does, however, provide evidence that doing that is dumb.

KYC/AML have an effectiveness that rounds to zero while causing trouble for innocent people as the government pressures the banks to do something about problems the banks aren't in a position to actually solve, so instead the banks suspend the accounts of more innocent people because the government is pressuring them to suspend more accounts.