I never understood the "non-kyc" part of exchanges like robosats or bisq for this exact reason. Ok, the exchange does not ask you to verify your identity and doesn't hold your fucking passport on their servers but... there's a huge but.

You are still using your bank account to send or receive money from someone. The bank might (and probably will) start asking questions. You leave the paper trail. And if you are unlucky, the person on the other side of that transaction might be on a watch list. Doesn't that immediatelly make your bank account flagged? The whole scheme seems way too risky.

Am I overlooking some important piece of this puzzle?