Forced liquidations begin in 30 days for business crypto accounts missing new verification rules on Bybit
Bybit is requiring some Brazilian business users who received a supplemental Business Verification request to complete it by Aug. 21. Accounts that do not comply will first be restricted from opening or adding positions and from using most Bybit products, though crypto withdrawals and Convert remain available with limits. Starting Sept. 21, noncompliant accounts may also face forced liquidation of open positions on restricted products at market prices, automatic conversion of unsupported fiat balances to USDT, and forfeiture of noncompliant bonuses or coupons. The request applies only to users specifically notified by in-app message or email from Aug. 1 onward. Bybit did not disclose how many accounts are affected or the exact products and currencies involved. Compliant users can keep using products allowed under Brazilian rules, while fiat support under the new Brazil entity will be limited to BRL. A broader migration for eligible Brazilian users is set for Sept. 24, when accounts will move to the Brazil-based entity and existing main accounts will become Standard Accounts with only locally approved products.
