FTX Users Face $2.5 Billion Repayment Risk Unless KYC Completed by June 1 Deadline ⏰
Nearly 400,000 users of FTX are at risk of forfeiting $2.5 billion in potential cryptocurrency repayments due to the necessity of completing mandatory Know Your Customer (KYC) verification. This requirement comes with a strict deadline set for June 1. Failure to comply with this regulation could result in the loss of access to funds for those affected.
The push for KYC compliance highlights the importance of aligning with regulatory standards in the crypto space, ensuring transparency and security for both users and the platform.
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