Crypto exchange Bybit will require updated Know-Your-Customer (KYC) verification checks for various products from Dec. 15.
Bybit’s one-click buys, fiat deposits and peer-to-peer trading will require individual KYC, as will NFT purchases and sales of more than $10,000 on the secondary marketplace, according to a new post in the exchange’s help center.
NFT deposits, withdrawals and purchases from the primary marketplace will have compulsory KYC enforced from Dec. 30.
Withdrawal limits for each KYC level will also change on Dec. 20, with non-KYC users able to withdraw a maximum of 20,000 USDT per day and 100,000 USDT per month.
Crypto deposits and trading appear to be unaffected, though the exchange notes that it “may further expand KYC requirements in the near future.”
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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