Binance Tightens Customer Verification Requirements

Binance has tightened the customer verification requirements on its platforms as it extends its response to heightened regulatory scrutiny over recent months.

* With immediate effect, new customers must supply government ID and pass facial verification to meet “Intermediate” verification for access to services such as crypto deposits, trades and withdrawals, Binance announced Friday.

* Existing customers who have only met the “Basic” verification standard – by simply providing personal information – will have their services limited to withdrawal, order cancellation, position close and redemption.