Bitget, a top cryptocurrency derivatives and copy trading platform, has announced mandatory Know Your Customer (KYC) requirements coming into effect starting September 1, 2023. All new users will be required to complete KYC verification upon registration, while existing clients will have a grace period until September 30. The KYC requirements are intended to improve security compliance for traders on the Bitget exchange and help prevent money laundering and financing of illegal activities.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. Existing users who have not yet completed KYC will have until October 1 to do so. If they fail to undergo the verification process before October, they will be restricted to only withdraw, cancel orders, redeem subscriptions, and close positions, with restrictions on creating new trades.By complying with AML and KYC regulations, Bitget demonstrates a commitment to transparency that builds confidence with partners, aligning with global regulatory standards. The exchange is already a registered Virtual Asset Service Provider (VASP) in Poland and has completed similar procedures in Lithuania. Bitget plans to double its efforts on compliance to instil further trust and confidence from users worldwide.

Information	Details
Geography	Europe
Countries	🇵🇱 🇱🇹
Sentiment	positive
Relevance Score	10
People	Gracy Chen
Companies	Bitget, Virtual Asset Service Provider (VASP), AML, KYC, PGL
Currencies	None
Securities	None