Under Regulatory Review, Peach Bitcoin Temporarily Suspends KYC-Free Custody Model
OdailyOdaily News: Bitcoin News posted on X that Peach Bitcoin stated that Swiss regulators are seeking to re-examine the compliance framework for its KYC-free peer-to-peer Bitcoin trading platform, which has been permitted to operate since 2022. Peach Bitcoin will temporarily exit the custody process starting September 1, 2026, and adopt a non-custodial model during the appeal period.
In the temporary model, only users who have completed KYC, been authorized through manual whitelisting, or met transaction record requirements can create sell orders. Sellers who have not completed KYC can only participate in one ongoing transaction at a time. The buy function remains available to all users, with a maximum transaction limit of 500 Swiss francs per transaction and a maximum premium of 6%. The in-app dispute resolution system remains available, but Peach Bitcoin will no longer sign in custody and will continue to charge a 2% fee from released transactions.
Peach Bitcoin founder @proofofsteph stated that the company will not immediately abandon the KYC-free model and will communicate with regulators regarding its position; if the appeal ultimately fails, the company will comply with the regulatory decision.
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