KuCoin Strengthens Safety and Compliance with Obligatory KYC Improve

• KuCoin will implement necessary KYC authentication guidelines ranging from July 15, 2023.
• Newly registered customers should full the KYC course of to entry KuCoin merchandise.
• Non-KYC customers registered earlier than July 15, 2023, will face restricted entry.

KuCoin, a number one international crypto change, has introduced a major improve to implement new Know Your Buyer (KYC) authentication guidelines and programs, set to take impact from July 15, 2023.

This strategic transfer goals to align with international compliance requirements, foster a safer buying and selling surroundings and strengthen consumer account safety.

Beginning July 15, 2023, all newly registered customers should full the KYC course of to entry KuCoin’s complete vary of services and products. This mandate establishes a excessive degree of accountability and transparency inside the platform.

Nonetheless, customers who registered earlier than July 15, 2023, and fail to bear the KYC process will face restricted entry to particular options. These people will solely have the ability to make the most of companies reminiscent of Spot buying and selling promote orders, Futures buying and selling deleveraging, Margin buying and selling deleveraging, KuCoin Earn redemption, and ETF redemption. Deposit companies can be unavailable, though withdrawals will stay unaffected.

Johnny Lyu, the CEO of KuCoin, underscored the change’s unwavering dedication to prioritizing asset safety for its customers. As a globalized platform, KuCoin diligently screens crypto laws in varied jurisdictions and adheres to compliance necessities, thereby providing enhanced asset safety.

Lyu emphasised the fast evolution of the crypto trade from area of interest adoption to widespread use, which has consequently raised safety considerations for on-chain belongings. In response, KuCoin has proactively fortified its KYC system to satisfy international regulatory calls for and make sure the security of all crypto customers’ belongings via sturdy KYC protocols.

In the course of the improve interval, customers can relaxation assured that their belongings stay safe whereas KuCoin continues its relentless pursuit of improved companies.

For detailed data or inquiries concerning the KYC authentication changes, customers are inspired to go to the help heart, be a part of the Telegram group, or contact the web customer support crew.

With over 27 million customers spanning 207 nations, KuCoin gives entry to over 700 digital belongings. The change secured $150 million in investments in 2022, leading to a valuation of $10 billion, and is acknowledged as one of many prime 5 crypto exchanges by CoinMarketCap.