Bitget exec says KYC is useful to filter out illegitimate users
Bitget managing director Gracy Chen said that if users are not doing illegitimate activities like money laundering, they should be "pretty comfortable" with the KYC process. Crypto exchange Bitget has grown significantly despite the challenges brought by the bear market. In 2023, the exchange announced two $100 million funds—one dedicated to crypto projects in Asia and another for maximizing the company’s long-term impact in the crypto space. At the Bitget EmpowerX Summit held in Singapore, Cointelegraph’s Zhiyuan Sun spoke with Gracy Chen, the managing director of Bitget. The two spoke about Bitget’s growth amid the bear market, pausing its expansion in Hong Kong and the United States and why they believe that implementing Know Your Customer (KYC) protocols is important for exchanges. A panel discussion at the Bitget event held in Singapore. Source: Cointelegraph According to Chen, the company grew ten times its original number just in two years. “For our company's e...