Binance has been in the regulatory cross-hairs of jurisdictions across the globe amid claims of it operating unlicensed businesses. As remediation of the ongoing scrutiny, the crypto exchange has publicly announced new Know Your Customer (KYC) requirements for all users on the platform.
“Effective immediately, all new users are required to complete Intermediate Verification to access Binance products and service offerings, including cryptocurrency deposits, trades and withdrawals,” a statement said.