Binance mandates know-your-customer verification that includes government ID and facial verification in response to heightened regulatory scrutiny
New customers will have to supply government ID and pass facial verification to meet Binance's “Intermediate” verification.
CoinDesk Jamie Crawley
Related Coverage
- Updates to Binance Services Binance
- View article Associated Press
- View article PYMNTS.com
- Binance imposes mandatory KYC for all services with immediate effect Forkast · Michelle Lim
- Binance Makes KYC Mandatory For New Users Crypto Briefing · Vishal Chawla
- Amid Regulatory Pressure, Crypto Exchange Binance Makes KYC Mandatory Coinspeaker · Bhushan Akolkar
- Binance Clamps Down on Customer Verification As Regulatory Pressures Mount Bitcoinist.com · San Lee
Discussion
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@bloqport
@bloqport
on x
Binance says all new users are required to complete KYC to access Binance products and service offerings, including cryptocurrency deposits, trades and withdrawals, effective immediately. Binance says decision was made to strengthen its AML compliance. https://www.binance.com/...
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@darkcryptolord
Dark Crypto Lady
on x
YIKESSSSSSSSSSSS “Existing users who have yet to complete Intermediate Verification will have their account permissions temporarily changed to “Withdraw Only”, with services limited to withdrawal, order cancellation, position close, and redemption.” https://twitter.com/...
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@nytimesbusiness
@nytimesbusiness
on x
The quest for legitimacy in the United States is leading https://binance.com/, the world's largest cryptocurrency exchange, to pursue an initial public offering of its American unit. https://www.nytimes.com/...
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@bitfinexed
@bitfinexed
on x
“But with U.S. authorities investigating Binance over money laundering and tax issues, according to a Bloomberg report, and Mr. Zhao's ownership of Binance US hovering around 90 percent, GreatPoint decided against making an investment.” CZ owns 90% 🤣 https://www.nytimes.com/...
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@flitteronfraud
Emily Flitter
on x
Crypto platforms are the “Wild West” of the American financial landscape. Not my words but @GaryGensler's. Here's a look inside one firm's effort to raise VC $$$ — and why investors balked. https://www.nytimes.com/...
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@fintechfrank
Frank Chaparro
on x
Apparently BinanceUS was looking to raise $100 million from investors, but couldn't. Investors didn't seem to buy into Brian Brook's messaging that Binance and BinanceUS were separate. https://www.nytimes.com/...
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@flitteronfraud
Emily Flitter
on x
SCOOP: @BinanceUS is trying to raise outside $$$ as part of a plan to eventually go public, but the going is hard. Here's why @BrianBrooksUS and Manny Alvarez quit two weeks ago https://www.nytimes.com/...
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@flitteronfraud
Emily Flitter
on x
I hadn't really written about #Crypto since the Mt. Gox/Silk Road days (I happened to be the one who told Ross U's mom that he'd had been arrested), so writing about @binance was a bit of a trip down memory lane. But there were no big VC deals back then https://www.nytimes.com/..…
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@kylesgibson
Kyle S. Gibson
on x
.@BrianBrooksUS on May 19: “https://binance.us/ has a truly arms-length relationship” ... “That's a very, very different thing from them owning us, which they don't” CZ owns 90% of https://binance.us/ https://www.nytimes.com/...