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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
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A set of rulebooks published by the Virtual Assets Regulatory Authority lays out requirements for crypto firms covering everything from issuance and exchange services to advertising. Source
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Under the industry’s self-regulation code, advertisements must clearly warn users of investment risk and social media influencers shouldn’t offer trading advice. Source
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The preceding point about transaction validation is important because it is enticing to compare the energy density of Bitcoin transactions to something like Visa (V). Bitcoin can only handle seven transactions per second compared to Visa’s 24,000+. But, remember, Bitcoin doesn’t use energy to validate transactions. The miners’ job is
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