Binance Clamps Down on Customer Verification As Regulatory Pressures Mount

Business 20 August, 2021 - 07:12am 13 views

What is KYC verification in Binance?

Intermediate Verification supports the company's Know Your Customer (KYC) and Anti-Money Laundering (AML) efforts, according to the Binance blog. These are part of the company's efforts “to further enhance user protection and risk management protocols.” yahoo.comBinance Requiring ‘Intermediate Verification’ for All Users

Binance is ramping up its enforcement of user verification as the crypto exchange faces regulatory pressure

Markets Insider 20 August, 2021 - 11:29am

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Binance Imposes Mandatory KYC For All Services With Immediate Effect

Forkast News 20 August, 2021 - 07:35am

Beset by legal and regulatory woes around the world, Binance — the world’s largest cryptocurrency exchange by trading volume — today announced that it is implementing mandatory know-your-customer (KYC) with immediate effect as it steps up its anti-money laundering (AML) compliance.

See related article: Binance CEO reiterates willingness to replace self, beefs up KYC

Michelle is a journalist at Forkast. Prior to joining the team, she wrote for CNN and served with the Singapore Foreign Service. She holds a Master of Journalism from the University of Hong Kong and a Bachelor of Business Administration from the National University of Singapore.

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