{"id":77759,"date":"2023-04-24T16:58:11","date_gmt":"2023-04-24T13:58:11","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=77759"},"modified":"2025-09-11T01:07:28","modified_gmt":"2025-09-10T22:07:28","slug":"bybit-to-tighten-kyc-requirements","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bybit-to-tighten-kyc-requirements\/","title":{"rendered":"Bybit to tighten KYC requirements"},"content":{"rendered":"<p>On May 8, the Bybit cryptocurrency exchange <a href=\"https:\/\/www.bybit.com\/en-US\/help-center\/s\/article\/Individual-KYC-FAQ\">will introduce<\/a> mandatory verification for all platform users.<\/p>\n<p>KYC compliance must be at least Level 1. Otherwise, clients will lose access to the exchange&#8217;s products and services.<\/p>\n<p>Users who do not complete verification will be able only to close existing positions and orders, repay loans, and withdraw funds.<\/p>\n<p>For individuals who have completed the first stage of KYC, the daily withdrawal limit will be $1 million; for level two \u2014 $2 million.<\/p>\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2023-04-24-v-16.54.35.webp\" alt=\"Snimok-ekrana-2023-04-24-v-16.54.35\" class=\"wp-image-205235\" width=\"840\" height=\"368\"\/><figcaption>New withdrawal limits. Data: Bybit.<br \/><\/figcaption><\/figure>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">26 April 2023 | 14:46<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>A Bybit spokesperson told ForkLog that the changes are being introduced to improve security.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe implementation of KYC is an important step for us, as we strive to comply with evolving regulatory standards [\u2026]. This measure also provides an additional layer of protection against fraudsters who may attempt to gain access to customers&#8217; accounts without authorization,\u201d the interlocutor noted.<\/p>\n<\/blockquote>\n<\/div>\n<p>In December 2022, Cinneamhain Ventures partner Adam Cochran <a href=\"https:\/\/u1f987.com\/en\/news\/opinion-uniswap-to-implement-user-verification\">suggested<\/a> that the decentralized exchange <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-uniswap-uni\">Uniswap<\/a> would implement a KYC system in the next version of the protocol.<\/p>\n<p>In March 2023, CNBC <a href=\"https:\/\/u1f987.com\/en\/news\/cnbc-binance-employees-help-users-evade-kyc-checks\">reported<\/a> that some Binance employees helped users from China and other countries evade KYC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On May 8, Bybit will implement mandatory verification for all platform users.<\/p>\n","protected":false},"author":1,"featured_media":77760,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1292,1151,1166],"class_list":["post-77759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-aml-kyc","tag-bybit","tag-centralized-exchanges-cex"],"aioseo_notices":[],"amp_enabled":true,"views":"37","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=77759"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77759\/revisions"}],"predecessor-version":[{"id":77761,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77759\/revisions\/77761"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/77760"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=77759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=77759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=77759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}