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Binance, KuCoin, Bybit Lead the Rankings as Top Regulated CEXs in TokenInsight Report
VICTORIA, Seychelles, July 10, 2024 /PRNewswire/ — The growing adoption of cryptocurrencies is driving significant technical innovation and investment opportunities. However, this rapid expansion also poses substantial risks to the cryptocurrency industry. The latest report from TokenInsight analyzes the regulatory compliance of top 10 cryptocurrency exchanges globally, with KuCoin emerging as the leader.
According to relationshipBinance leads the way in securing regulatory approvals, closely followed by KuCoin, highlighting their commitment to obtaining the necessary licenses in various jurisdictions. In terms of global reach, HTX covers the most legal and regulated countries, with KuCoin coming in second, demonstrating their dedication to operating within legal frameworks around the world. KuCoin also stands out for implementing the lowest daily withdrawal limits among major exchanges, showcasing their rigorous user safety measures and regulatory compliance.
Additionally, KuCoin excels in anti-money laundering (AML) efforts, collaborating with the largest number of external providers, including Chainalysis, Cybersource, Sumsub, and so on, to strengthen its AML strategies. In cooperation with law enforcement, Binance handled over 50,000 and 52,000 requests in 2022 and 2023 respectively, while KuCoin ranked second, handling over 4,100 and 7,200 requests in the same period. Additionally, both Binance and KuCoin prioritize user education, with Binance setting a high bar in compliance transparency and KuCoin running numerous campaigns to promote informed trading practices.
THE TokenInsight Report highlights the importance of security and regulatory compliance as the cryptocurrency industry continues to grow. Exchanges such as Binance, KuCoin, and Bybit are leading the way by implementing stringent compliance measures and promoting a safe trading environment. Their efforts not only protect users but also contribute to the broader acceptance and legitimacy of cryptocurrencies in the global financial landscape.
About KuCoin
Launched in September 2017, KuCoin is a leading cryptocurrency exchange with operational headquarters in Seychelles. As a user-centric platform with a focus on inclusivity 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 among the top 5 cryptocurrency exchanges. KuCoin has been hailed as “One of the Best Cryptocurrency Apps and 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 about Italian: https://www.kucoin.com/.
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