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KuCoin lays off 30% of workforce following US lawsuit and adoption of stringent KYC policy

July 25, 2023
in Crypto Exchanges
Reading Time: 1 min read
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Cryptocurrency trade KuCoin has determined to put off 30% of its workforce, in response to inner sources. With virtually 1,000 workers, the transfer follows Binance’s current announcement to restructure and scale back workers numbers as nicely. The corporate has attributed the layoffs to its not too long ago adopted stringent KYC coverage after being sued by the US authorities, which has reportedly resulted in decrease income. KuCoin workers members have expressed concern over the corporate’s future, with many unsure about their positions.

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Tags: AdoptionKuCoinKYClawsuitLaysPolicyStringentWorkforce
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