Kucoin’s updated KYC policy seems to be affecting profits, which has reportedly led tge company to carry out job cuts.While the crypto exchange allegedly described the action as a “normal performance appraisal,” the layoff is said to be a result of the company’s new KYC policy.that Kucoin will let go of 30% of its staff members, citing information from three internal employees.know your customer measures which it made mandatory for its users.
While there is no official announcement from the exchange, the report stated that the Seychelles-based firm said the layoff is a “normal performance appraisal,” adding that “Kucoin is actively embracing compliance and focusing on core business development.”rumors of job cuts, stating that it was instead looking to increase its staff by 30%.some of its employees in preparation for a lengthy and expensive legal battle with the Securities and Exchange Commission .