• Bitget has joined the list of exchanges implementing stricter KYC requirements to comply with global regulations.
• The new KYC process requires customers to provide a valid government-issued ID and complete a facial identification process.
• Customers who signed up before September 1 have until October 1 to complete the level 1 KYC verification process or risk account restrictions.
Bitget Introduces Stricter KYC Requirements
Bitget, one of the leading exchanges in the cryptocurrency industry, has recently announced that it will be introducing stricter Know Your Customer (KYC) requirements in order to comply with global regulatory standards. This update is part of a larger movement by cryptocurrency exchanges which are strengthening their privacy and security measures in response to money laundering and fraud concerns.
What Does This Mean For Customers?
The new rules will affect both existing and new customers, requiring them to complete Bitget’s level 1 KYC verification process in order to access all features of the platform including deposit and trading crypto assets. To complete this process, customers must provide their name, nationality, date of birth as well as a valid government-issued ID and go through a facial identification procedure. New users must do this starting September 1st or else face account restrictions while existing customers have until October 1st before they too can no longer use the platform unless they comply with these new guidelines.
Why Is Bitget Doing This?
By updating its KYC requirements, Bitget hopes to better protect customer rights as well as create a more secure trading environment on its platform while also avoiding any potential regulatory scrutiny from authorities worldwide.
How Can You Comply With These Rules?
To comply with Bitget’s updated KYC rules, customers must fill out an online form requiring them to submit personal information such as name, nationality, date of birth along with providing a valid government-issued ID for identification purposes and completing the facial recognition procedure provided by the exchange.
In conclusion, Bitget has announced that it will be introducing stricter Know Your Customer (KYC) requirements in order for its customers to access all features available on its platform starting September 1st for new users and October 1st for existing ones. To fulfill these updated regulations customers must provide personal information along with a valid government-issued ID as well as undergo facial recognition procedures provided by the exchange itself.