Crypto Exchange KuCoin to Introduce Mandatory ID Checks Next Month
As of July 15, new customers will be required to complete identification checks to use KuCoin's services....
- Cryptocurrency exchange KuCoin will implement mandatory know-your-customer (KYC) checks starting July 15.
- New customers will need to complete the KYC process to use KuCoin's services.
- Existing customers who do not complete KYC will be unable to trade or make deposits.
- Regulators have criticized crypto exchanges for weak KYC checks, which can facilitate fraud, money laundering, and terrorist financing.
- KuCoin has over 27 million users and is one of the world's largest crypto exchanges with a 24-hour trading volume of $531 million.
The article highlights KuCoin's decision to introduce mandatory KYC checks, which is seen as a positive step towards addressing concerns about lax security measures in the cryptocurrency industry.