KuCoin’s BTC Reserves Plunge 77% Post-KYC Mandate

KuCoin’s BTC Reserves Plunge 77% Post-KYC Mandate

KuCoin, once a significant player among centralized crypto exchanges, has witnessed a sharp 77.6% decline in its Bitcoin reserves over the past two years, according to a recent CryptoQuant analysis. The primary driver behind this steep drop was the exchange’s enforcement of mandatory Know Your Customer (KYC) procedures in June 2023. The decision to mandate identity verification for all users was initially surrounded by speculation but was for...

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