Bitget Strengthens KYC Requirements for Users
Cryptocurrency exchange Bitget has announced that it is strengthening its know-your-customer (KYC) requirements for users. Starting from September 1, newly signed-up users must complete level-one KYC verification in order to deposit and trade digital assets on Bitget. For existing users who signed up before September 1, they must meet the level-one KYC requirements before October 1 or they will only be able to withdraw, cancel orders, and close positions. Bitget’s level-one KYC verification involves submitting a government-issued identity document and undergoing facial authentication, which takes approximately 20 minutes.
Main Key Points:
– Bitget is enhancing its KYC requirements for users to comply with regulatory requirements and ensure a secure cryptocurrency trading environment.
– Newly signed-up users must complete level-one KYC verification to deposit and trade digital assets.
– Existing users who signed up before September 1 must meet the level-one KYC requirements before October 1.
– Bitget’s level-one KYC verification involves submitting a government-issued identity document and undergoing facial authentication.
– Bitget’s move to heighten its KYC rules aligns with its goal of expanding its global presence.
Hot Take:
As crypto exchanges face increasing regulatory scrutiny, strengthening KYC requirements is becoming a common practice. Bitget’s decision to enhance its KYC rules demonstrates its commitment to compliance and providing a secure trading environment. By requiring users to complete level-one KYC verification, Bitget aims to protect against fraudulent activities and ensure the legitimacy of its users. This move aligns with the industry trend of stricter KYC procedures, as other exchanges like KuCoin and Bybit have also implemented similar measures.
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