Analysis Today TheBitTimes.com

The exchange operator is instituting new KYC requirements for users from September 2023 to comply with developing global regulatory guidelines. Seychelles-based cryptocurrency derivatives exchange Bitget is updating its Know Your Customer (KYC) requirements for users to stay in step with global regulatory guidelines.  According to the company, the new KYC requirements are being instituted to protect user rights and interests, shape a secure cryptocurrency trading environment and comply with regulatory recommendations from various global watchdogs. BitGet will adjust its KYC verification requirements from September 2023, with newly registered users required to complete level 1 KYC verification to access a variety of Bitget’s services including deposits and trading of cryptocurrencies. Bitget's updated KYC mandate. Source: Bitget Users that signed up to the platform before Sept. 1 are required to complete KYC verification by Oct. 1, 2023. The derivatives exchange notes that user

International Monetary Fund (IMF) managing director Kristalina Georgieva revealed that the IMF is actively developing a platform dedicated to facilitating transactions between countries via central bank digital currencies (CBDCs). This move reflects the IMF’s commitment to fostering global interoperability by encouraging central banks to establish a unified regulatory framework for digital currencies. Avoiding fragmented national approaches Speaking at a conference attended by African central banks in Rabat, Morocco, IMF managing director Kristalina Georgieva emphasized the importance of avoiding fragmented national approaches when it comes to CBDCs. Georgieva underscored the need for interconnected systems and global interoperability to achieve more efficient and equitable transactions. Her remarks emphasized the significance of developing CBDCs that go beyond national boundaries. She stressed that for transactions to be truly efficient and fair, it is crucial to establish sys