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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