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/Nothing would be the effect. I feel it is high time people started getting used to this than complaining because with regulations, most of these exchanges will be forced to implement KYC whether anyone likes it or not.
I am not sure how Binance is going to be playing this with its movement to Malta, but that is still giving it a lot of edge asides its low fees, but if time comes that it warrants it, I would not be surprised this would be the same pattern as well. Just get used to it!