What are the different Binance KYC verification levels available? Binance KYC Levelsįor individuals, there are two levels of KYC or Identity Verification with Binance: For users who have not completed the KYC, Binance restricted or limited their withdrawal. ![]() Instead of grandfathering the old users, they gave them an ample amount of time to withdraw funds or complete the KYC. However, as the crypto industry became big, Binance started implementing strict KYC policies. If not, any individual or group can misuse such financial platforms to fund illicit activities.īack in 2017-2018, the crypto industry was new and a lot of exchanges including Binance had basic KYC where users could join using their email address or phone number. This is done in order to prevent misuse of financial instruments and stop terrorism financing. KYC (Know your customer) is the foundation of AML/CFT compliance regulations around the world, and which requires financial institutes to identify their customers and understand their nature of business. What is Binance KYC and why they have implemented it? Should I create a new Binance account if I move to a new country?.Can you change the KYC of your Binance account?. ![]() What about Binance corporate account KYC?.How to complete identity verification on Binance.What are the different Binance KYC verification levels available?.What is Binance KYC and why they have implemented it?.
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