Forced liquidations begin in 30 days for business crypto accounts missing new verification rules on Bybit

Bybit has given some Brazilian business users until Aug. 21 to complete additional verification. Accounts that miss a requested update will first face access restrictions, then, from Sept. 21, could have remaining positions on restricted products forcibly liquidated at market prices and unsupported fiat balances converted to USDT.The deadline applies only to business users who received a request to supplement existing Business Verification information, according to Bybit’s notice.Bybit began sending those requests in-app and by email from Aug. 1. Recipients must follow the deadline in their individual notification and finish no later than Aug. 21 unless the company specifies otherwise. The public notice does not give a cutoff hour, disclose how many accounts are affected or show a visible revision history.Bybit restrictions come before forced actionFollowing the applicable deadline, an affected account that remains noncompliant will be placed under restriction. It will no longer be able to open or add positions or access Bybit products and services, with two stated exceptions: crypto withdrawals and Convert, which remains subject to limitations.That restriction phase is separate fr...