Does BingX require KYC?

I've been exploring various cryptocurrency exchanges and have come across BingX. However, I'm a bit concerned about their KYC (Know Your Customer) requirements. Could you please clarify if BingX actually mandates KYC verification for its users? I'm particularly interested in understanding if this applies to all users or only those engaging in larger transactions. Additionally, I'd like to know if the KYC process is rigorous and whether it involves sharing sensitive personal information. Could you also elaborate on the potential risks associated with not completing KYC, if any? Thank you for your assistance in clarifying these matters.