KuCoin Introduces Mandatory KYC As Regulations Kick In
Cryptocurrency platform KuCoin has announced that it will be introducing mandatory Know Your Customer (KYC) rules as it looks to embrace regulations....
- Cryptocurrency platform KuCoin will be implementing mandatory Know Your Customer (KYC) rules starting from July 15th, 2023.
- Users will be required to complete the KYC process to access KuCoin's services, and failure to do so will result in trading and deposit restrictions.
- The introduction of KYC rules aims to enhance customer identification, combat money laundering, terrorist financing, and other financial crimes.
- KuCoin's CEO states that the mandatory KYC checks will help the exchange comply with regulations and improve overall security.
- KuCoin experienced significant growth in its user base, with over 27 million active customers and a 102% year-on-year increase in 2022.
The sentiment of the article is neutral. It provides factual information about KuCoin's implementation of KYC rules and its growth in user base.