Bitget Exchange Updates New KYC Policy: Level 1 Verification Required For Withdrawals

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.

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