bitFlyer Sets 48-Hour Transfer Hold for Some New Users Starting Oct. 15

bitFlyer will add a 48-hour hold on some cryptocurrency transfers after yen deposits by recently verified individual users, a fraud-prevention measure scheduled to take effect Oct. 15.

The restriction applies to users who completed identity verification less than 90 days earlier. For each deposit, the amount subject to the hold is the total yen deposited during the preceding 48 hours minus ¥100,000. If deposits during that period total ¥100,000 or less, transfers are not restricted. Each deposit starts its own 48-hour period.

The measure blocks some crypto assets from being sent to external addresses. It does not affect yen deposits or withdrawals, buying or selling crypto, holding assets or receiving them.

Quick Deposit deposits are excluded because they already have a seven-day restriction on crypto transfers. The new policy is scheduled to begin Oct. 15.