Bitget, a Seychelles-based crypto exchange, announced the implementation of mandatory Know Your Customer (KYC) policies starting December 15, 2023.

The new KYC requirements include a tiered system, with the first level allowing derivatives trading and withdrawals up to $3 million daily.

Early compliance incentives include 100 USDT for the first 5,000 users and additional rewards for VIP users, along with a chance to win an iPhone 15 Pro.

Jamie Elkaleh, Bitget's country manager, emphasises the move as essential for enhancing user security and adhering to global financial regulations.