Cryptocurrency exchange Bybit will begin to request authentication with the Know Your Customer (KYC) system for various user transactions.
Bybit will request authentication from users for various transactions from December 15th. Among these processes, crypto and fiat deposit-withdrawal transactions, P2P trading, more than $10,000 in NFTs on secondary markets includes trading. Deposits, withdrawals and purchases of NFTs from the primary market will start from December 30. mandatory from KYC app will be subjected.
Daily withdrawal limit for users who have not authenticated since the specified date $20,000 will be dropped. Level 1 authenticated users 1 million dollars while you can perform shooting operations level 2 for authenticated users, this limit with $2 million will be limited.
While cryptocurrency deposits and trades appear to be unaffected by this restriction for now, the exchange stated that it may “further expand its KYC requirements in the near future.”
