Identity verification through KYC (Know Your Customer) is a crucial process for individuals seeking to withdraw their digital assets to a bank or other financial institution. By undergoing KYC verification, users establish their legitimacy and build trust with the financial institution, ensuring a secure and compliant transaction. This process plays a vital role in preventing fraudulent activities, such as money laundering, terrorist financing, or identity theft.

To facilitate the withdrawal of digital assets to a bank account, the financial institution requires individuals to provide certain personal information and supporting documentation. This information can include documents such as a valid government-issued identification, proof of address, and sometimes additional details like source of funds.