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Cryptocurrency Derivatives Exchange Bybit To Implement Stricter KYC Process Such As Face Recognition

Mary Liu

Summary: According to Coindesk, starting on July 12, the cryptocurrency derivatives exchange Bybit will further enhance its Know Your Customer (KYC) process. If withdrawing more than 2 BTC in a day, the user must perform face recognition and share identification.  Users who withdraw more than 50 BTC in a day must also show proof of address.  ...

According to Coindesk, starting on July 12, the cryptocurrency derivatives exchange Bybit will further enhance its Know Your Customer (KYC) process.

If withdrawing more than 2 BTC in a day, the user must perform face recognition and share identification. 

Users who withdraw more than 50 BTC in a day must also show proof of address. 

Bybit said that after the planned introduction of spot transactions and the launch of hot wallets, its transaction volume has increased significantly. The enhancement of KYC procedures is to more strictly comply with industry regulatory standards.

By Mary Liu

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