Bitget mandates KYC requirements in line with tightening global regulations

According to the company, the brand-new KYC requirements are being set up to safeguard user rights and interests, form a safe and secure cryptocurrency trading environment and comply with regulative suggestions from different international watchdogs.BitGet will adjust its KYC verification requirements from September 2023, with freshly signed up users needed to finish level 1 KYC verification to access a variety of Bitgets services consisting of deposits and trading of cryptocurrencies.Bitgets updated KYC mandate. The derivatives exchange notes that users that have actually not completed the process through September will still be able to deposit, withdraw and trade.However from October onwards users that have actually not brought out the KYC verification process will be limited to withdrawals, cancel orders, redeem memberships and closing positions and will be limited from being able to develop new trading orders.Related: The Sandbox carries out KYC procedures for procedure stakingBitget likewise noted that it would follow through with KYC treatments to validate consumers identities for threat assessment purposes in line with a bulk of mainstream financial organizations and managed organizations. KuCoin users are needed to offer their names, ID numbers, ID photo and complete a facial recognition process.OKX is likewise requiring users to bring out a KYC procedure to verify identities, with a comparable deadline to Bitget in September.