Bitpay now requires the identity information from users when they make the high-value payments, refunds, and payouts.
The above-shown form page has appeared for identity verification when the purchasers requesting refunds of $1,000 or more and when people receiving BitPay payouts, or when purchasers paying $3,000 or more.
For all Bitpay users, it is the one-time requirement of identity information such as a Social Security number (or passport number for non-US residents) and a picture or scan of a photo ID.
Person-to-person payments with BitPay’s BitPay and Copay apps aren’t included and do not require ID verification.
Thresholds for refunds with payment and payouts are currently live as of 5 August 2019.
You can also check the guidelines provided by Bitpay for completing the identity verification.
A month ago, United States Telecom Gaint AT&T start accepting Bitcoin and crypto payments via BitPay for phone bill pays.
Previously, A senior official qt China’s Central Bank announced that the country will soon release its Central Bank Digital Currency (CBDC a cryptocurrency) at China Finance 40 Group on 11 August.