An Unexpected Restriction Decision Came for the Stock Exchange with 20 Million Users!

Giant brokerage company Hidden Road stopped its customers' access to Bybit.

According to Bloomberg's news based on anonymous sources, Securities-backed brokerage firm Hidden Road has stopped its customers' access to the cryptocurrency exchange Bybit.

The reason for this decision was a dispute between Hidden Road and Bybit regarding KYC and "anti-money laundering requirements".

In response to this news, Bybit announced that they had initiated a 'comprehensive compliance review' of their brokerage business. Bybit has not commented on its dealings with Hidden Road.

Bybit had made KYC requirements mandatory starting from May 2023, but this practice created incompatibility with some business partners. Hidden Road stated that failure to comply with these regulations is risky and emphasized that it took this decision to protect its customers.