Binance Expands Global KYC Requirements to Further User Protection
Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has announced the global rollout of its 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.
Changpeng Zhao (CZ), Founder and 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 cybercrime 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 towards 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.