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Dmitry Machikhin, BitOK CEO, comments on Uniswap’s KYC hook inclusion, asserting its essential role in avoiding regulatory pressures and championing the move toward crypto-sector compliance. Uniswap to introduce KYC A hook designed to complete the know your customer (KYC) procedure was found in the open directory of the decentralized financial protocol (defi) Uniswap V4. One of the Features of Uniswap v4 will be the use of hooks. These are tools that allow developers to modify code without changing the main version of the program. It is expected that these plugins will help implement new functions for liquidity pools. For example, limit orders and individual on-chain oracles. According to the description in the catalog, the KYC hook is designed to verify the identity of clients before trading on the Uniswap decentralized exchange. Source: UniswapHooks Now there is no need to undergo such verification now. To start using Uniswap, users just need to connect their wallet...

KYC is an important measure for crypto exchanges to protect and recover user funds in the case of theft or hacking, KuCoin CEO Johnny Lyu said. Amid KuCoin exchange preparing to adopt mandatory Know Your Customer (KYC) checks, the company’s CEO argued that privacy is not the most important feature of Bitcoin (BTC). “When it comes to the purpose of Bitcoin creation, I think privacy is just one of its Features ,” KuCoin CEO Johnny Lyu told Cointelegraph in an interview on July 4. Instead of privacy, the core benefit of Bitcoin is a unit of exchange, which allows holders to hedge against recessions, Lyu hinted. The CEO mentioned that Bitcoin was created after the 2008 financial crisis, which was triggered by the United States subprime mortgage crisis. “These events led to the birth of Bitcoin,” Lyu noted. While some may believe that overly strict KYC practices are not good for users as they may limit one’s privacy, the KuCoin CEO believes that such policies are more useful than not, as...