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Crypto Exchange Bybit to Add New Restrictions for Unverified Users, Update Withdrawal Limits

Cryptocurrency exchange Bybit has announced upcoming changes to its know-your-customer (KYC) policy that will limit certain operations for unverified customers. The stricter requirements concern coin purchases with fiat money, NFT transactions, and withdrawal limits.

Crypto exchange Bybit will restrict some services that are currently available to users who are yet to pass its verification procedure. The crypto trading platform, one of the largest with global reach, announced the enhanced KYC requirements on Thursday and later adjusted the timeframe for their implementation.

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 (P2P) trading and the One-Click Buy option starting from Dec. 15, 2022.

(By Lubomir Tassev)

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