Key Points:
- Bitget Exchange strengthens its KYC policy to comply with regulatory requirements.
- Users who don’t complete Level 1 KYC verification by Oct 1 can’t trade.
Following OKX and KuCoin, Bitget Exchange said it would strengthen its KYC policy. From October 1st, users who have not completed Level 1 KYC verification can only withdraw funds, cancel orders and close positions.
Bitget Exchange has announced that it will strengthen its know-your-customer (KYC) policy to better protect users’ rights and interests, comply with regulatory requirements in the global cryptocurrency sector, and create a secure cryptocurrency trading environment.
From October 1st, users who have not completed Level 1 KYC verification can only withdraw funds, cancel orders, and close positions. To complete Level 1 KYC, users must submit government-issued documents and face recognition.
The new KYC verification requirements will take effect from September 1, 2023. Starting from that date, all newly signed-up users must complete level 1 KYC verification to access various services on Bitget, including the deposit and trading digital assets. Users who signed up before September 1, 2023, must complete level 1 KYC verification before October 1, 2023.
Between September 1 and October 1, users who have not yet completed level 1 KYC verification can still deposit, withdraw, and trade as usual. However, starting from October 1, users who have not completed level 1 KYC verification can only withdraw, cancel orders, redeem subscriptions, and close positions, being restricted from creating new trading orders.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Source: https://coincu.com/211969-bitget-exchange-new-kyc-required-for-withdrawals/