bitFlyer complies with the guidelines set forth by JBA. Furthermore, we carry out strict identity verification checks (KYC：Know Your Customer) that go beyond JBA standards in order to protect the important assets of our customers.
For transactions exceeding ¥50,000 a day, bitFlyer carries out identity verification to a level exceeding that of ordinary financial institutions. In addition to verifying customer bank account information (financial institution conducted bank account validity verification), bitFlyer requires customers to submit an ID selfie (photo-affixed official identity verification documentation and selfie picture) as well as a passport/driving license copy. Furthermore, bitFlyer's approval is required for questionable transactions such as sudden large deposits or deposit cancellations, and bitcoin deposits and remittances. We apologize for the inconvenience, but request your understanding in this matter.
In the event that the bitFlyer bank account is frozen and placed under investigation in relation to fraudulent remittances or other issues, bitFlyer will invoke its contingency plan.
bitFlyer retains personal funds of several tens of millions of yen in a domestic bank account additional to its Mitsui Sumitomo account. We will use this account to conduct cancellations and monetary deposits if the contingency plan is invoked.
Please make note of the following points concerning the contingency plan.
Monetary deposits, cancellations, and bank account information verification may be delayed, but we will continue to provide an uninterrupted service.
If invoked, the contingency plan will cause some inconvenience to our customers, but we do ask for your understanding in such a situation.