As a regulated Australian digital currency exchange, we’re required under the AML/CTF Act, administered by AUSTRAC, to keep the information we hold about our customers accurate and up to date. As part of these ongoing obligations, we periodically need to ask our customers to review their details and verify their identity again.
This process, known as re-KYC (Know Your Customer), may require you to resubmit your identification documents. This allows us to perform updated verification checks to ensure our records remain accurate and current. Being asked to complete your verification again does not necessarily mean there is an issue with your account.
To complete your Re-KYC, please log in to your account and select the verification banner at the top of the page. You'll be securely redirected to Sumsub, our identity verification provider, to finish the process. Please complete it within 60 days of our first email. The exact date is shown in that email and in the banner in your account.
For your security, you’ll only be able to complete your Re-KYC, once logged into your account and via accessing the verification banner.
Why am I being asked to complete re-KYC?
Re-KYC is an ongoing part of how we meet our regulatory obligations. Customers may be asked to complete it for a number of reasons, including regular periodic reviews, the passage of time since your account was opened or last verified, the expiry of a document previously provided, or changes to regulatory requirements.
What does Re-KYC involve?
Depending on your account type and the information we currently hold, you may be asked to do one or more of the following: confirm that your existing personal details are still correct, update any details that have changed, answer questions about how you intend to use your account, or provide your identification documents so we can reverify your identity.
For business accounts, this may also include company or trust details, ownership and control structure, directors, beneficial owners and other key personnel, and the nature of the business's activities.
Why do I need to resubmit my ID if I've already verified?
Identity verification isn't a one-time check. Documents expire, personal details change, and regulatory standards and verification technology are updated over time. Our obligations require us to make sure the identity information we hold remains current and reliable, which means some customers will still need to complete updated verification checks even if they have verified with us in the past.
How do I complete Re-KYC?
- Log in to your BTC Markets account.
- Look for the verification banner displayed at the top of the page.
- Select the banner to begin your verification.
- You'll be securely redirected to Sumsub, our trusted identity verification provider.
- Follow the on-screen instructions to review your details, upload any requested documents and complete any required checks, such as a selfie or liveness check.
- Once you've finished, your verification will be submitted to us for review. We'll notify you by email once the review is complete.
Stay safe: We will only ever ask you to complete Re-KYC through the verification banner inside your account. We will never ask for your password, two-factor authentication codes or seed phrases, and we will never ask you to send documents via social media or messaging apps. If you receive a request that seems suspicious, please contact our Support team.
What happens if I don't complete Re-KYC?
We'll give you time to complete your Re-KYC and will send reminders before any changes are made to your account. If Re-KYC is not completed within 60 days of the initial request, your account will be restricted from trading, depositing and withdrawing until the process is completed.
Need help?
If you have questions about the re-KYC process or the information being requested, please contact our support team for assistance.