Although blockchain technology is still relatively new, it doesn’t mean that there are no laws for the field hence why new regulations are already in place to protect Investors and Authorities have carefully started monitoring blockchain financial markets.
HitBTC Risk Management team is responsible for monitoring overall trading activity in accordance with AML/KYC rules.
Know Your Customer (KYC) verification procedure is required to verify the identity of HitBTC users. The procedure includes sending certain scanned documents to the Compliance dept. and a background check. It is an important step to enhance security of our traders.
You are welcome to upgrade your account to Verified status if you are willing to avoid eventual verification procedure in the future.
Here is how you can verify your account.