At Binance, we review our products and services on an ongoing basis to determine changes and improvements in light of evolving global compliance standards. To enhance user protections and provide a safe crypto environment for everyone, we will roll out the ‘intermediate verification‘ requirement for all users.
Intermediate verification supports Binance’s know your customer (KYC) and anti-money laundering (AML) efforts as part of the organization’s redoubling of efforts to further enhance user protection and risk management protocols.
CZ, CEO of Binance, said,
“User protection is an integral part of our DNA and core values. Our vision is to create a sustainable ecosystem that is safe for all participants. In the last four years, we have laid the groundwork by investing heavily in security and user protection, supporting law enforcement from around the world with high-profile investigations and helping cyber-crime victims recover millions of dollars worth of stolen funds.
“We aim to work more collaboratively with policy-makers to improve global standards and discourage bad actors.”
In the last 30 days, Binance has announced significant investments toward user protection, including (but not limited to) senior compliance appointments, compliance technology deployments, ‘tax reporting tool’ launch, updates to leveraged trading, changes to withdrawal limits and updates to API services.
For more information on the updates to Binance’s global KYC requirements, please visit the following.
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