KYB

Know Your Business (KYB) is a verification process that confirms the authenticity and legitimacy of your business entity. This process verifies that your company is:

• Legally registered and operating.

• Compliant with regulatory requirements.

• Protected against corporate fraud and illegal activities.

KYB verification is mandatory to access Coinsbuy's production environment and begin processing real transactions.

Coinsbuy uses Sumsub as our trusted KYB verification provider to ensure secure and compliant business verification.

Only users with the Owner role can access this section.

Key points

• Until KYB verification is completed, you can only use the Sandbox environment.

• Verification must be renewed periodically to maintain compliance.

• You'll see a red notification badge on the KYB menu item when:

  • KYB verification hasn't been initiated yet.

  • Additional documents are requested by the verification provider.

Legal entity list

On this page, you can view a list of all your legal entities registered in the system and their statuses.

The following information is provided about each entity:

Legal entity name

The official business name, as specified during KYB.

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Country of incorporation

The country where your business is legally registered and incorporated, as specified during KYB.

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Jurisdiction

Automatically determined based on your country of incorporation. This affects which regulatory requirements apply to your business.

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Status

The current status of your KYB verification request.

Possible values:

• In progress: You've started but haven't completed the KYB verification process.

• Pending: Your application is being reviewed by our verification provider.

• Approved: Verification successful — you can access production features.

• Declined: Verification was rejected — you may submit a new application with a different entity.

• Cancelled by client: You cancelled the verification process.

• Action required: Additional documents or information needed — respond promptly to avoid delays.

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KYB start date

The date and time when the KYB process was initiated for this entity.

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Next KYB date

For approved entities only.

The date and time when your next periodic re-verification is due to maintain compliance.

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Available actions

Depending on your entity's current status, the following options are available:

• Cancel: (Available for: In progress status)

  • Stop the current verification process.

• Check: (Available for: In progress, Pending, Action required status)

  • View verification progress.

  • Continue incomplete verification.

  • Submit additional required documents.