Why do virtual currency exchanges require real-name authentication?

Virtual currency exchange real-name authentication

KYC stands for Know Your Customer.According to international anti-money laundering regulations, organizations are required to have a comprehensive understanding of their customers in order to predict and detect unreasonable and potentially illegal activities in commercial transactions.

Therefore, real-name authentication is required for trading on exchanges, but some exchanges without real-name authentication only prevent OTC trading (fiat currency trading), and spot, contract, and leverage trading are not affected.

Real name virtual currency exchange

According to my knowledge, Binance exchange requires real-name verification in order to trade, including spot trading and futures contracts.

Binance exchange

Exchange platform that allows anonymous transactions

The following exchanges do not require real-name authentication for trading (excluding OTC).


Okx Exchange

Mexc Exchange

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