Coinspeaker
KuCoin to Require KYC Verification for All Users Starting from July
Leading cryptocurrency exchange KuCoin has introduced additional checks to its KYC verification process. In a bid to comply with global anti-money laundering regulations, the firm announced the KYC system upgrade on June 28. As part of the upgrade, all new users will have to complete mandatory identity checks from July 15. Without this, such users will not have access to the firm’s suite of products.
In the same manner, existing users will not be able to make deposits to the platform without additional verification. However, they will have access to other features like buying and selling, trading with less risk, and getting rewards.
According to KuCoin CEO, Johnny Lyu, the increased adoption of cryptocurrency has pushed the number of related security issues higher. He said:
“As a globalized exchange, KuCoin closely monitors the crypto policies of various countries and respects compliance requirements, p
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