Peach Bitcoin: Temporarily suspending the no KYC custody model

Peach Bitcoin stated that Swiss regulators are seeking to re-examine the compliance framework of its KYC-exempt peer-to-peer Bitcoin trading platform, which has been authorized to operate since 2022. Peach Bitcoin will temporarily exit the custodial process starting from September 1, 2026, and will adopt a non-custodial model during the appeal period.

In the temporary model, only users who have completed KYC, been manually whitelisted, or meet transaction record requirements can create sell orders. Sellers who have not completed KYC can only participate in one ongoing transaction at a time. The buying function remains open to all users, with a single transaction limit of 500 Swiss francs and a maximum premium of 6%. The in-app dispute resolution system will still be 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-exempt model and will communicate with regulators regarding its position; if the final appeal fails, the company will comply with regulatory decisions.