Welcome to Astral! Before you can start trading, you need to complete a procedure called Know Your Customer (KYC). The purpose of this procedure is to ensure that our platform is safe and reliable, and to comply with the requirements of relevant laws and regulations.
The KYC procedure is a common financial regulatory tool designed to ensure a trader's identity and source of assets is authentic and reliable. This is very important to protect the rights and assets of all users on the platform.
Specifically, the KYC procedure has the following purposes:
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Prevention of money laundering and terrorist financing: KYC procedures can help us identify and prevent criminals from using our platform to conduct illegal transactions, such as money laundering and terrorist financing. By verifying user identity and source of funds, we can ensure that all assets on the platform are legitimate.
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Compliance with laws and regulations: There are relevant laws and regulations in various countries and regions that require financial institutions to carry out KYC procedures. As a legal and compliant exchange, our platform also needs to comply with relevant requirements.
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Protect user safety: KYC procedures can help us identify potential fraud and risks. By verifying user identity and source of funds, we can reduce the risk of fraud and other security issues on the platform and protect the rights and assets of all users.
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Improve transaction experience: Through KYC procedures, we can better identify and understand our users and provide them with more personalized service and support. This improves the user's trading experience and helps us better meet their needs.
In conclusion, KYC procedures are essential to protect both exchanges and traders. We hope you can understand and support our KYC procedures to ensure your assets and transactions are safe and secure. If you have any questions or need help, we are here for you.