Toobit: Pionering "Non-Mandatory KYC" for Crypto Compliance and User Freedom
Toobit is introducing a "non-mandatory KYC" model to balance regulatory demands like MiCA with user privacy and access. CEO Ray Lee highlighted how the platform serves over 4 million traders with daily volumes exceeding $30 billion.
The exchange employs advanced risk management, including Know Your Transaction (KYT) monitoring with Elliptic and Beosin, ISO-level security, and conditional verification for traders. This approach upholds safety while preserving user choice.
Toobit's "Bee-Safe" strategy includes a $50 million shield fund, institutional custody via Fireblocks and Cobo, and full reserve transparency, ensuring assets are secured in cold storage.
Innovations like zero-slippage copy trading, event contracts, and TradingView integration aim to democratize access to sophisticated trading tools for all participants.