• KuCoin, a leading cryptocurrency exchange, is upgrading its Know Your Customer (KYC) authentication rules and systems.
• The upgraded KYC framework requires all newly registered users to complete KYC from July 15, 2023 onwards.
• Non-KYC users will be restricted in their access to certain features such as Spot trading sell orders, Futures trading deleveraging, etc.
KuCoin Introduces Mandatory KYC Upgrade
KuCoin, a leading cryptocurrency exchange platform, has announced an upcoming upgrade of its Know Your Customer (KYC) authentication rules and systems effective July 15th, 2023. This move is aimed at embracing global compliance requirements and creating a safer trading environment for all users on the platform.
New Users Must Complete KYC
Starting from July 15th of this year, all newly registered users must complete the KYC process to gain full access to KuCoin’s comprehensive suite of products and services. This requirement ensures that user accounts are held accountable and are transparent within the platform.
Limited Services for Non-KYC Users
For those who have already registered before this date but have not yet completed their KYCs, they will only be able to utilize limited services such as Spot trading sell orders, Futures trading deleveraging, Margin trading deleveraging, KuCoin Earn redemption, ETF redemption but cannot deposit or withdraw funds until they pass the verification process.
Enhanced Asset Security
Johnny Lyu CEO of KuCoin stated “As people’s exchange we prioritize asset security which is why we are closely monitoring global crypto policies and regulations to ensure our user’s assets remain safe.” By strengthening the KYC system they aim to better protect asset security within the industry while also complying with regulatory requirements worldwide.
Inquiries & Concerns Regarding Upgrade
During this period of upgrade please note that user assets remain safe while KuCoin strives to deliver better services as usual. For any inquiries or concerns regarding the adjustment please visit their support center for more information or contact their online customer service team directly