VICTORIA, Seychelles, July 10,
2024 /PRNewswire/ -- The rising adoption
of cryptocurrency is driving significant technical innovations
and investment opportunities. However, this rapid expansion also
brings substantial risks to the crypto industry. TokenInsight's
latest report analyzes the regulatory compliance of the top 10
global cryptocurrency exchanges, with KuCoin emerging as a
leader.
According to the report, Binance leads the pack in securing
regulatory approvals, followed closely by KuCoin, highlighting
their commitment to obtaining necessary licenses across various
jurisdictions. In terms of global reach, HTX covers the most legal
and regulated countries, with KuCoin coming in second,
demonstrating its dedication to operating within legal frameworks
worldwide. KuCoin also stands out for implementing the lowest daily
withdrawal limits among top exchanges, showcasing its stringent
user security measures and regulatory compliance.
Moreover, KuCoin excels in anti-money laundering (AML) efforts,
collaborating with the highest number of external vendors,
including Chainalysis, Cybersource, Sumsub and etc, to bolster its
AML strategies. In law enforcement cooperation, Binance addressed
over 50,000 and 52,000 requests in 2022 and 2023, respectively,
while KuCoin ranked second, handling over 4,100 and 7,200 requests
during the same period. Additionally, both Binance and KuCoin
prioritize user education, with Binance setting a high standard in
compliance transparency and KuCoin running numerous campaigns to
promote informed trading practices.
The TokenInsight report emphasizes the importance of security
and regulatory compliance as the cryptocurrency industry continues
to grow. Exchanges like Binance, KuCoin, and Bybit are leading the
way by implementing rigorous compliance measures and fostering a
secure trading environment. Their efforts not only protect users
but also contribute to the broader acceptance and legitimacy of
cryptocurrency in the global financial landscape.
About KuCoin
Launched in September 2017, KuCoin is a leading
cryptocurrency exchange with its operational headquarters in
Seychelles. As a user-oriented
platform with a focus on inclusiveness and community engagement. It
offers over 900 digital assets across Spot trading, Margin trading,
P2P Fiat trading, Futures trading, and Staking to its 34 million
users in more than 200 countries and regions. KuCoin ranks one of
the top 5 crypto exchanges. KuCoin was acclaimed as "One of the
Best Crypto Apps & Exchanges of June
2024" by Forbes Advisor and has been included as one of the
top 50 companies in the "2024 Hurun Global Unicorn List". Learn
more at https://www.kucoin.com/.
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