Crypto exchange Bybit to restrict services for unverified users.
Verification is now needed to access the Bybit Launchpad and use Earn products. Passing individual KYC will be compulsory for acquiring crypto through fiat deposits, peer-to-peer trading and the One-Click Buy option starting from Dec. 15, 2022.
On the same date, identity verification will become mandatory for clients who want to claim their rewards in the platform’s Rewards Hub. The new KYC policy will also apply to operations with non-fungible tokens . The stricter rules will be effective for all NFT purchases and sales for over $10,000 per transaction in the NFT secondary marketplace from Dec. 15 and for NFT deposits, withdrawals and purchases from the primary marketplace from Dec. 30, Bybit explained.
The cryptocurrency exchange also noted that it may further expand the KYC requirements in the near future, urging users to refer to its official announcements for further updates on the matter. Bybit will also change the withdrawal limits for each of its KYC levels on Dec. 20. For clients that have not passed a KYC check, the daily limit will be set at the equivalent of 20,000 tether (
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