<div class="cryptonews"> 
 <p class="is-style-lead">The Seychelles-based exchange known as Bitget is adding the KYC process for its new users starting Sept. 1.&nbsp;</p> 
 <p>The company said in a statement that all the new users will have to complete the level one KYC verification for making deposits and trades on the platform.</p> 
 <p>Users who signed up before Sept. 1 must meet the level one KYC standards before October 1. If they failed to meet the new KYC requirements, they won’t be able to trade, make deposits, or withdraws.</p> 
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 <p>The users must provide a government-issued identity document and proceed with facial authentication. The process will have an average duration of 20 minutes.</p> 
 <p>The new KYC process comes in when the company plans to expand its global presence. Last April, Bitget announced a $100 million global venture capital fund, focusing mainly on the Asian market.</p> 
 <p>In July, the company announced the launch of some new products, such as crypto loans.</p> 
 <p>The KYC process plays a key role in helping the company to avoid dealing with scammers and different potential crimes such as money laundering.</p> 
 <p>By implementing the compliance process, Bitget is in a better position to understand what kind of clients they are dealing with and to prevent different financial crimes from taking place.</p> 
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Bitget introduces new KYC for its customers

TheBitTimes

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