Cryptocurrency exchange KuCoin has announced that it will be suspending its Bitcoin and Litecoin mining pools. The exchange did not provide a clear reason for the decision, stating only that it is in line with their evolving business strategy. It is unclear if the decision is related to the upcoming Litecoin halving. KuCoin has also recently implemented mandatory Know Your Customer (KYC) requirements for its users. In addition, the exchange has confirmed plans to lay off 30% of its workforce, citing the strict KYC policy as the main reason. The exchange currently has over 20 million registered accounts.
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