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/KYC on kucoin though is not compulsory, it is only if you want to use fiat gateway then you will have to do KYC. But yes i agree, kucoin announcing KYC and in a vague type of announcement had a big negative impact in the community. I understand it's being compliant and all but most coins in kucoin are fresh from ico, and most traders there are small time traders trying to get their hands on cheap alts, that move will make more people move to decentralized exchanges.