Deribit KYC - AML Programme Update as of 9 November 2020
As of 9 November 2020, we will require all new clients to obtain the verified status before they can start trading. This will imply providing an ID document plus proof of residence. This means going forward only Verified clients will be able to make deposits and trade.
The distinctions between current Level 0 and Level 1 clients (e.g. ability to perform block trades, daily withdrawal limitations) will no longer exist.
Current clients will be required to obtain the Verified status before 9 December 2020 by uploading both required documents (if they have not done so already).
Current corporate accounts that have completed level 1 of our verification process do not need to provide any additional information. They will automatically be updated to the status Verified.
You can verify the status of your account here.
New mandatory requirement proof of residence
Every customer of Deribit is required to provide a document that reflects the country of residence. As proof of residence, we accept a utility bill, bank statement, tax bill or document from the local authorities. Additional information or documentation can be requested at the discretion of our Compliance team.
Reduce Only Mode
Existing clients that have not abided by these requirements before 9 December 2020 have been put on Reduce Only Mode which implies the following:
The client is no longer able to engage in new trades (open new positions).
The client is only able to close positions and withdraw funds.
All open (limit) orders that could enlarge the open positions have been canceled.
This mode is a Deribit account-wide (incl sub-accounts) setting and impacts all ways of accessing the platform (web API, app, and using partners).
Deribit will not force close open positions.
Partner or affiliate payments will still be processed.
Deribit reserves the right to immediately close any of your accounts and liquidate any open positions if it is determined that you have provided false information about your location or place of residence.
KYC AML Policy Summary
The KYC procedure is accessible in the ‘Verification’ tab in the menu My Account in your account.
The overview of acceptable IDs via automatic upload is shown below. Please reach out via firstname.lastname@example.org should your ID not be stated in the overview.
When uploading your photo ID:
Ensure that your document is valid and not expired, without hole punches or other modifications
Ensure your document is in a well-lit area without glare. Natural sunlight is best
Photograph the entire document and avoid cutting off any corners or sides
Ensure the ID is fully visible and in focus
Use the Chrome browser to complete the verification
Try using your mobile device. In some instances, you can use the mobile app to complete the ID verification step using your phone's camera.
Make sure the app or program you use to take the pictures does not add any logos or watermarks
Do not obfuscate any information on the ID
Sharing of client information with third parties
For the verification of ID and proof of residence documents, we have implemented the software of Jumio. Jumio has achieved certifications against PCI DSS and ISO/IEC 27001:2013 securing the data of their customers and is committed to continuous risk management.
We also work with Chainalysis for the monitoring of cryptocurrency addresses and transactions (KYT or Know Your Transaction). This allows us to detect OFAC legal activities. ID documents and proof of residence documents are not shared with Chainalysis.
Besides properly validated law enforcement sanctioned addresses and suspicious coins from transactions related to theft, scams, hacks, darknet markets, money laundering, financing terrorism, and other illegal activities, Deribit does not proactively share data with government agencies.
Deribit accepted IDs