Hidden Road Halts Client Access to Bybit Over KYC and AML Disagreements Hidden Road, backed by Citadel Securities, has
suspended client access to Bybit due to
KYC and
AML disagreements.
Bybit is now undergoing a compliance review to address these concerns, as regulators tighten scrutiny over crypto exchanges.
Hidden Road, the prime brokerage firm, made the decision to halt access to Bybit a few weeks ago, leaving clients in the dark about the exact reasons behind the move.
In response, Bybit is taking steps towards a comprehensive compliance review, following in the footsteps of Binance's recent settlement with US authorities.
While this issue affects only some users, it highlights the importance of accessing crypto through trusted companies or brokers.
Bybit's CEO, Ben Zhou, has also had to address rumours of a potential hack or insolvency, assuring users of the platform's financial stability and robust security measures.
Additionally, Bybit faces regulatory challenges in Europe, with France's AMF blacklisting the exchange for operating without proper authorization.
