A regulated Hongkong based exchanged that doesn't ask KYC is very suspicious to me knowing how China would do about it. Surely it will ask/required later on when they have lots of users. "No-KYC" tag is just a marketing gimmick for an exchange to use nowadays lol, except if its a DEX.
NO KYC for some limits, such as deposit and withdrawal limits of $10,000 per day or at all, and how will you deal with regulatory authorities, which may start asking the platform about user data.
Now, that's an interesting exchange setup, isn't it? Regulated, but KYC isn't enforced. It's like a whole new ball game. I wonder what kind of 'government' they've got running the show – maybe a 'decentralized government' where rules are more flexible?
Words are cheap. 'No KYC', 'decentralized', 'custodial', and the like are terms easily used to mislead people and gain trust.
Under their terms and conditions, you indeed cannot find KYC, but you can find 'personal data' and 'personal information'. Specifically, it says:
"...we will collect minimal personal identification, only as much as required to protect the security of your funds, such as to prove your identity to reclaim ownership should account access be lost."
Also, I'm a little bit confused. Is this exchange based in Hong Kong but licensed or registered in George Town, Cayman Islands? It seems it was only just a couple of months ago when the first cryptocurrency exchange secured a Hong Kong license to offer trading to retail investors. And this is operating since 2019?
I hope OP clarifies.
