Read

<p class="is-style-lead">Bitget, the world’s 10th largest cryptocurrency exchange, is implementing comprehensive Know Your Customer (KYC) requirements for all English-speaking users.&nbsp;</p> 
<p>The security-enhancing measure, effective from Dec. 15, aligns with regulatory standards to ensure compliance across the platform.</p> 
<h2 class="wp-block-heading" id="aligning-with-global-financial-regulations">Aligning with global financial regulations</h2> 
<p>In response to user preferences and the need for flexibility, Bitget is implementing its KYC requirements in two tiers. Under this framework, the completion of Level 1 grants users access to all Bitget services, including derivatives and copy trading, with daily withdrawal limits extending up to $3 million.</p> 
<p>Bitget’s rollout of the KYC implementation will be done in phases to minimize disruption and give users sufficient time to upgrade their accounts. The strategic introduction aligns with Bitget’s ongoing efforts to combat financial crimes like money laundering, reinforcing the platform’s dedication to enhancing user protection.</p> 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"> <iframe title="Trade Smarter With Bitget | #BitgetRebranding" width="1020" height="574" src="https://www.youtube.com/embed/38UhNzEGUD4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
 </div>
</figure> 
<p>“As a leading player in the cryptocurrency exchange landscape, Bitget is committed to offering state-of-the-art services and ensuring a secure and compliant trading environment for our global community,” Bitget Country Manager Jamie Elkaleh said in a release. “The introduction of mandatory KYC requirements for all users is a decisive step towards enhancing user security and aligning with global financial regulations.”</p> 
<p>In the press release shared with crypto.news, the exchange highlights that users who undergo KYC verification by the Dec. 15 deadline will also qualify for a trading bonus of up to 100 USDT, available for the initial 5,000 participants.</p> 
<p> You might also like: <a href="https://crypto.news/uniswaps-kyc-move-essential-for-dex-survival-expert-says/"> Uniswap’s KYC move essential for DEX survival, expert says </a> </p> 
<h2 class="wp-block-heading" id="enhancing-wallet-support">Enhancing wallet support</h2> 
<p>This comes on the same day <a href="https://crypto.news/bitget-wallet-partners-with-linea-to-develop-layer-2-ecosystem/">Bitget Wallet shared the news</a> of a new partnership with Deri Protocol.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/BitgetWallet/status/1735231855241392344 
 </div>
</figure> 
<p>The new addition was designed to improve the trading experience for users as a second move that would assist the platform in leading the industry by example.</p> 
<p> Read more: <a href="https://crypto.news/binance-refutes-euro-issues-confirms-additional-kyc/"> Binance refutes euro issues, confirms additional KYC </a> </p>

Bitget implements mandatory KYC for enhanced security

Table of Contents

crypto.news

Other articles published on Dec 14, 2023

CFTC votes on a rule to secure customer funds in derivatives

Spike in Worldcoin whale activity; Possible price surge incoming?

IMF Calls for Crypto Regulation to Address Financial Stability Risks!

CoinRoutes enhances crypto liquidity with Bitvavo, the leading EUR spot trading exchange

Gemini Earn’s Proposed Bitcoin Repayment Plan is ‘Brutal’

South Korea’s next-phase of Crypto regulations amid Do Kwon case

Join our free newsletter for daily crypto updates!