In line with Gate's ongoing commitment to combat money laundering and terrorist financing, we are pleased to announce the upgrade of our Know Your Customer (KYC) controls as part of our Anti-Money Laundering (AML) program. We recognize the importance of adapting to evolving global compliance standards and strive to provide a safe crypto environment for all users.
To bolster user protection and strengthen our AML and KYC program, we have dedicated substantial resources to continuous optimization since the beginning. As a result of the past few months’ efforts, we are implementing the following changes:
1.Advanced Verification for New Users: Effective immediately, all new users are required to complete Advanced Verification in order to access Gate products and services, including digital asset deposits, trades, and withdrawals.
2.Temporary Account Permissions for Existing Users: Existing users who have not yet completed Advanced Verification by the specified deadline will have their account permissions temporarily changed to "Withdraw Only." During this period, services will be limited to withdrawal, order cancellation, position close, and redemption. We will carry out this transition in phases to minimize any disruption to the user experience. The deadline to complete the Advanced Verification is 2023-07-09 00:00 AM (UTC). Detailed information regarding this change will be communicated directly to existing users. Once users complete the Advanced Verification, they will be able to retain access to Gate products and services.
We believe that AML and KYC measures are crucial in reducing consumer risk and fostering a sustainable ecosystem. By enhancing user security and preventing financial crimes, we aim to create a safer platform for all users. Therefore, we strongly urge all Gate users to promptly complete the Advanced Verification process to avoid any restrictions on their access.
We remain committed to maintaining a robust AML and KYC program and will continue to review and improve our systems in alignment with industry best practices. Thank you for your understanding and cooperation.
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Gate Team
June 9th, 2023
