The Bybit cryptocurrency exchange will require corporate clients and individuals to undergo KYC procedures to withdraw bitcoins.
According to the information on the website, the measure was implemented to “increase security requirements for all traders.”
Companies are required to provide a list of documents and data for the possibility of withdrawing from 2 BTC to 100 BTC per day.
Trending: Salvadorans are against buying bitcoins at the expense of the budget
From individuals, Bybit requires a passport, personal information, and the passage of the facial recognition procedure. In this case, the exchange will allow withdrawals from 2 BTC to 50 BTC daily.
To increase the limit to 100 BTC, the user needs to confirm the address of residence.
Some representatives of the crypto community were skeptical about the initiative. One Twitter user suggested that the new policy would negatively affect trading volume.