bybit

Hidden Road Suspends Client Access to Bybit Over KYC and AML Disagreements

The Big Whale

30 May 2024 — 1 min read

Hidden Road, backed by Citadel Securities, stops client access to Bybit crypto platform.
Disagreements over KYC and AML requirements cited as reasons for the halt.
Bybit conducting compliance review of prime brokerage business in response.
Hidden Road sought to raise $120 million in a series B equity round.
Bybit and Hidden Road did not comment on the situation.
Hidden Road provides prime brokerage services for forex and digital assets.

Summary :
Citadel Securities-backed prime brokerage Hidden Road has reportedly suspended client access to cryptocurrency trading platform Bybit due to disagreements over know-your-customer (KYC) and anti-money laundering requirements. Bybit has responded by initiating a comprehensive compliance review of its prime brokerage business to ensure adherence to regulations and improve customer onboarding processes. Hidden Road, which offers prime brokerage services for foreign exchange and digital asset markets, was also recently reported to be seeking $120 million in a series B equity round. Neither Bybit nor Hidden Road have provided official comments on the matter.

Sources :

- TheBlock

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