KUcoin forcing KYC for every users

[deep4u]

I think that's the bad move for them they are not yet established exchange in market and if you compare them with binance they are far back in terms of trust.

[Enochian]

KUCoin has decided to force KYC for every of it's users.

In an attempt to remain as one of the most trustworthy and transparent exchanges in operation, KuCoin will start enforcing KYC checks on users. This measure is to ensure KuCoin remains compliant with the developing regulations in the crypto industry.

Forcing KYC was the one of the reason for once number one exchange Bitrex to move down to 7th position at current time.
KUCoin is not even in top 30. What will be the effect of such move be on the exchange and cryptocurrency overall?

https://news.kucoin.com/en/kucoin-will-enforce-kyc-for-users/

Nowadays trend is like this. I do not know why exchange  force us to pass Kyc and I don't accept it as well, but what can we do?

[Teraboy]

its inevitable for all of the exchanges out there the government is the one forcing them to collect information about their users otherwise they cant operate their exchange. you should not worry about it if your not laundering money. there are some useful purpose of KYC in order to eliminate those people who use their exchange or crypto to launder money.

That's a bad decision early for the exchange. Binance the leader is not asking for KYC upto 2BTC daily trading.
The move would increase the dependence of Binance.
KYC with it's recent misuses have led negative image of it on every investors and traders.

Binance would have KYC if they didnt move out in china they moved their headquarters and servers on japan because of the crypto ban on china before.

That's why binance is moving to the malta, but remember all of the major exchange sites are putting tier for the users, It's much better rather force them all to complete KYC verification. Sometimes there is a someone that doesn't have the document that will be needed to complete KYC verification for various reason.

[aggress0r]

Thanks Kucoin team your have by far one of the greatest services and support I've personally met. I passed KYC in 1 day when it takes from 1 to 2 weeks ordinary. Great!

[btc78]

KUCoin has decided to force KYC for every of it's users.

In an attempt to remain as one of the most trustworthy and transparent exchanges in operation, KuCoin will start enforcing KYC checks on users. This measure is to ensure KuCoin remains compliant with the developing regulations in the crypto industry.

Forcing KYC was the one of the reason for once number one exchange Bitrex to move down to 7th position at current time.
KUCoin is not even in top 30. What will be the effect of such move be on the exchange and cryptocurrency overall?

https://news.kucoin.com/en/kucoin-will-enforce-kyc-for-users/

This is what happens if an exchanges wants their users to be legitimate.

What they only wants for their company security same as the customers

Maybe people now still not ready on this kind of treatment remember thats why we are here because this same issues we had in banking system..so maybe lets take things one at a time

[StevenPop]

KYC is ruining the concept of cryptos for everyone. people are using cryptocurrencies because they do not want people to know what they are up to online and also to keep their transactions and coins in their own control. If we wanted a market where all of our businesses and activities are known then we would just stick to the stock market.

[macit800]

It is a centralized exchange and the regulations are every dag stronger and stronger. Therefore I think that it is normal that they are asking KYC for users. On the other site are there enough solutions if you wants an exchange without KYC (mostly decentralized exchanges like forkdelta and idex).

[Scambusterz]

Is the verification procedure mandatory for traders? More recently, the procedure was at will in order to increase the amount of withdrawal funds.