OKEx’s KYC rules will start on August 28 2018. The exchange’s customers can no longer have multiple accounts, thus they are advised to transfer all the funds to an account before the new rule takes place.
The new KYC introduces withdrawal limits that depend on each users identification level. All users are expected to have completed at least level 1 identification before theyre allowed to withdraw their funds from the platform.
For 2 BTC daily withdrawal limit, users are required to provide their passport data, whereas, for 100 BTC daily limit, they are required to share their address information as well as uploading identity and proof of residence on the submitted address.
Listed as the second biggest cryptocurrency exchange by daily volume on Coinmarketcap, OKEx revealed their plan for further expansion by working together with Malta Stock Exchange in July 2018, which is followed by the launching of their white label exchange earlier in August.
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