Bybit will introduce new restrictions for unverified users
The platform announced about obligatory KYC procedure for customers to buy cryptocurrencies for fiat money and transactions with NFT
Crypto-exchange Bybit will limit the number of services that can be available to users who are not verified. The platform has announced changes to its KYC policy, as well as new withdrawal limits.
Currently, passing the KYC procedure is required for access to Bybit Launchpad and Earn products, as well as for credit card payments, trading on the exchange's P2P service and transactions in certain currencies.
Starting December 15, the platform will require verification to purchase cryptocurrencies for fiat funds and through One-Click Buy and P2P services. The KYC procedure will become mandatory for all NFT purchases and for NFT resales over $10,000 also from December 15. Mandatory user verification for depositing, withdrawing and buying NFTs on the primary market will be required from December 30.
In the near future, Bybit may further expand KYC requirements, the exchange said.
In addition to the new verification rules, from December 15, the platform will change the withdrawal limits: without KYC-check the daily limit on the withdrawal of assets will be 20 thousand USDT, the monthly limit - 100 thousand USDT. Until December 15, only a daily limit of 2 VT is set.