Today, I opened my mail to disappointing news. Towards the top of the list of items in my inbox was an email from KuCoin, informing me that No KYC will mean no service, as of 31 August 2023:
"Dear KuCoin Users,
To fulfill the principle of "Know Your Customer (KYC)", strengthen compliance with relevant laws and regulations, enhance the security level of user accounts, and better combat illegal and criminal activities such as money laundering and terrorist financing, KuCoin will upgrade its standard user identity verification procedure (users will need to upload their identity documents and complete face verification to pass the standard identity verification). This upgrade will be officially implemented from 00:00 on August 31, 2023 (UTC).
Note:
- Starting from 00:00 on August 31, 2023 (UTC), new users must complete the standard user identity verification (KYC) in order to use KuCoin's products and services.
- For users who registered before August 31, 2023 (UTC) but have not completed the identity verification by that date, they will only be able to use services such as selling coins, closing futures positions, closing margin positions, redeeming earn products, and redeeming ETFs. Meanwhile, they will not be able to use the deposit service (withdrawal service will not be affected).
During the upgrade period, the security of funds in your account will not be affected. However, to ensure the normal use of your account, please be sure to complete the standard user identity verification (KYC) as soon as possible."
They might as well change that U to a Y and pass the KY, because some folks are about to get fucked over. Well, I guess it's time for you and I to withdraw whatever we have on KuCoin (if anything), close our accounts and find a DEX before the 31st of the month ...
Thumbnail image Copyright KuCoin
