Bithumb Cuts Withdrawal Limit For Crypto Traders

Bithumb No withdraw? or only list of coins?

Bithumb, one of the largest cryptocurrency exchanges in South Korea, announced a gradual reduction in the withdrawal limit for all accounts that are not confirmed their identity.

The first stage is scheduled for June 4, and from unconfirmed accounts it will be possible to withdraw no more than $ 41.8 thousand per day, which is 10% less than currently available. There will be several such stages. What will be the limit for withdrawal in the end, representatives of the exchange do not say, but claim that they have decided to gradually reduce the amount to fight financial crimes.

Back in early 2018, South Korean regulators developed a personal identification system to make it impossible to trade anonymously in virtual currency. However, according to Bithumb, about 60% of customers do not switch to «real» accounts, so the trading platform is forced to introduce additional restrictions.

Bithumb Cuts Withdrawal Limit For Crypto Traders

At the moment, the activities of the exchange fully comply with the recommendations of regulators: the share of IT personnel is 21% of the total staff, of which 10% are responsible for information security, and 8% of the budget is spent on improving data protection.

As a reminder, Bithumb recently introduced a ban for clients from 11 countries..

text: Ivan Malichenko, photo: Getty images

Bithumb Cuts Withdrawal Limit For Crypto Traders

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