Bitget To Introduce Mandatory KYC Requirements For Enhanced Security And Compliance


VICTORIA, Seychelles, August 22, 2023 — Bitget, top cryptocurrency derivatives and copy trading platform, has announced mandatory Know Your Customer (KYC) requirements coming into effect starting September 1, 2023. Under updated rules, all new users will be required to complete KYC verification upon registration. Existing clients who have not yet completed KYC will have a grace period until September 30.
The KYC requirements aim to improve security compliance for traders on the Bitget exchange. The compliance team will use KYC information to identify customers and analyze risk profiles, as KYC procedures help prevent money laundering and financing of illegal activities per global and regional financial regulations.
Bitget will employ Level 1 and Level 2 KYC verifications, granting access to a range of services including earning, spot trading, futures trading, copy trading, and launchpad. From September 1, all new sign-ups will be required to complete Level 1 KYC to access Bitget services. For users who registered prior to September 1, this period will be extended until October 1. If failing to undergo the verification process before October, they will have their options limited to only withdraw, cancel orders, redeem subscriptions, and close positions, with restrictions on creating new trades.
Non-KYC users will be restricted to conduct any transactions or operations on Bitget, with the withdrawal feature as the only exception. By complying with AML and KYC regulations, Bitget demonstrates a commitment to transparency that builds confidence with partners, aligning with global regulatory standards.
“Bitget is further embracing compliance trends to protect our users. We believe introducing mandatory KYC will strengthen security for the benefit of users and reduce the risk of breaches. These requirements align with standard financial legislation that we must follow as a comprehensive financial services platform. By verifying identities, we reinforce our commitment to provide a secure trading environment for loyal customers who value compliance as much as we do,” said Gracy Chen, Managing Director of Bitget.
The introduction of KYC requirements exemplifies Bitget's commitment to providing regulated and secured service, embracing compliance trends. The exchange is already a registered Virtual Asset Service Provider (VASP) in Poland and has completed similar procedures in Lithuania. Looking ahead, Bitget plans to double its efforts on compliance to instil further trust and confidence from users worldwide.
About Bitget
Established in 2018, Bitget is the world's leading cryptocurrency exchange that offers Copy Trading services as one of its key features. Serving over 20 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord
For media inquiries, please contact: [email protected]
- Press releaseBitget Releases January 2025 Transparency Report, Showcasing Market Growth and Innovation Victoria, Seychelles, February 18, 2025 – Bitget, the leading cryptocurrency exchange and Web3 company, has released its January 2025 Transparency Report, highlighting a dynamic start to the year marked by significant growth in trading volumes, platform engagement, and ecosystem innovation. Bitget expanded the BGB ecosystem through strategic initiatives, including launching a BGB liquidity pool on Uniswap and a $1.1 million liquidity pool on Bulbaswap following its
2025-02-18
- Press releaseBitget's Liquidity Depth Analysis Highlights Competitive Edge in Crypto Trading Victoria, Seychelles, February 20th , 2025 – Bitget, the leading cryptocurrency exchange and Web3 company, has collaborated with CryptoRank to conduct an in-depth comparative analysis of liquidity depth among the top five global centralized cryptocurrency exchanges (CEXs): Binance, Bitget, Bybit, MEXC, and OKX. The research offers valuable insights into each platform's ability to handle large market orders with minimal price impact, a critical factor for traders seeking efficient trade execu
2025-02-20
- Press releaseBitget Lists Kaito (KAITO) With Rewards of 50,000 KAITO Victoria, Seychelles, 20th February 2025 – Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of the Kaito (KAITO) on its platform. Trading under the KAITO/USDT pair will commence on 20 February 2025, 13:00 (UTC). Kaito is an AI-powered web3 information platform that integrates AI-driven content creation and blockchain to create a decentralized social media experience. It aims to organize and streamline the vast amounts of information available in crypto s
2025-02-20