Share this article
Crypto Options Exchange Deribit to Require ID Verification for All Users by Year End: Report
Popular cryptocurrency options exchange Deribit will require all of its users to be ID verified before the end of this year under its revamped know-your-customer (KYC) policy.
Updated Sep 14, 2021, 10:21 a.m. Published Oct 21, 2020, 5:43 p.m.
Make us preferred on Google
Following a similar move by one of its rivals, popular cryptocurrency options exchange Deribit will require all of its users to be ID verified before the end of the year, according to a report by The Block.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The largest crypto options exchange by trading volume will ask its users to submit government-issued photo identification, such as a passport or driver's license, as well as a proof of residence, under its revamped know-your-customer (KYC) program.
- The move comes less than a day after rival exchange BitMEX announced it was accelerating its own planned mandatory ID verification requirement. Charged by the U.S. government with facilitating unregistered trading, BitMEX said all of its customers would need to verify their identities by Nov. 5, three months earlier than the original deadline.
- While Deribit currently uses a two-tiered KYC system that allows withdrawals up to one bitcoin (BTC) or 50 ether (ETH) without a photo ID or proof of residence, the change in policy will eliminate the tiers and make the requirements uniform across users.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Number of wallets with 1 million XRP is rising again
On-chain data points to underlying demand for XRP as ETFs pull in over $90 million.
What to know:
- XRP has fallen about 4 percent so far this month, even as on-chain data point to strengthening underlying investor interest.
- U.S.-listed spot XRP ETFs have attracted a net $91.72 million in inflows this month, bucking the trend of sustained outflows from bitcoin ETFs.
Top Stories
