#kyc

NewsDrop | BTC Reserves on KuCoin Have Collapsed

▫️🚨 KYC vs Users

Bitcoin reserves on KuCoin have decreased by 77% since June 2023 — from 18,300 to 4,100 BTC.

The reason is the mandatory verification (KYC) that the exchange implemented last year.

On-chain data shows: users who value privacy are massively withdrawing funds to avoid new checks.

This vividly illustrates the conflict: compliance with regulations or retaining the community?