Binance, the leading cryptocurrency platform, has decided to launch a mandatory verification procedure for all of its users. The administration of the trading floor published the corresponding statement this morning.
The blog clarified that this procedure is going to affect, first of all, new users. Only after passing it, a person will be able to deposit and withdraw funds from the trading platform and make transactions.
Until October 19, verification requirements will be phased out for existing Binance users. They will receive the necessary notifications from the administration.
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Only after passing the mandatory and so-called intermediate verification, each user of the exchange will be able to access its products and services. The press service encourages traders to go through this procedure so as not to encounter problems in service in the future.
In the summer, the Binance exchange came under pressure from the authorities of several states at once. They accuse the marketplace of operating in their jurisdiction without the required license.