ABCC review: Exchange introduces new dormancy fee for non-KYC users
Cryptocurrency exchange ABCC has announced the implementation of a dormancy fee for users who fail to complete Know Your Customer (KYC) verification by December 1, 2025 (00:00 UTC+8). The exchange stated that this fee will apply to accounts that remain unverified and will gradually increase over a 24-month period.
According to the official notice, an initial $5 USD fee will be charged in the first month, beginning December 1, 2025. From the second month onward, the dormancy fee will be calculated using a tiered formula:w + [(m - 1) * 2% + 1%] * b, where m represents the month count, b is the token balance, and w denotes the withdrawal fee per token.
By the 24th month, the entire remaining balance of unverified accounts will be charged as the dormancy fee, effectively reducing the balance to zero if users do not complete KYC verification. The exchange will collect KYC records at 00:00 (UTC+8) on the 1st day of each month, and charges will be automatically applied if verification is not completed by that time.
Example and exceptions
ABCC provided an illustration showing how the fees escalate: for an account holding 2,000 USDT with a $15 withdrawal fee, the dormancy charge would begin at $5, then rise to $74.85 in the second month and $111.01 in the third month, eventually leading to a full balance deduction by the 24th month.
Users in restricted regions, including the United States, are not permitted to complete KYC due to regulatory restrictions. ABCC strongly recommends that these users withdraw their funds and close their accounts before the new policy takes effect to avoid any deductions.
ABCC’s commitment to compliance
Founded as a global digital asset exchange, ABCC aims to uphold high compliance standards while offering a secure and transparent trading environment. The exchange provides spot trading, intuitive tools, and a user-centric interface, emphasizing both regulatory adherence and customer protection.
The upcoming KYC-linked dormancy fee highlights ABCC’s broader effort to align with international regulatory frameworks and strengthen the integrity of its user base. Traders are encouraged to complete verification early to maintain uninterrupted access to their funds and services.
Read also: KuCoin launches 170,000 KBEAT giveaway to boost user engagement
Latest Finance News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
