Cryptocurrency exchange OKEx has introduced a mandatory requirement that all users of the site must pass the verification procedure to have the possibility of withdrawal of funds. This was reported on the website of the marketplace.

The first level of verification gives the user the ability to display amounts to 2 BTC in a day. To activate this level, the participants of the exchange need only provide passport details.

The second level allows you to display already amount up to 100 BTC (in some cases even more depending on the trading volume of the user). For this capability, users OKEx must provide copies of documents with information about the place of residence and passport details.

The new rules come into effect from August 28 this year. Also, the administration OKEx has warned users that it is possible to have only one account on this platform. Prior to the entry into force of the new rules to the users of the exchange are advised to consolidate their funds into one preferred account.

The requirements also apply to all users of the exchanges, working on the affiliate program OKEx.

Earlier, the exchange OKEx increased its insurance Fund up to 2500 BTC.

ForkLog also previously reported that OKEx in the framework of an Open Partnership launched a community driven crypto currency exchange CoinAll.