Binance Significantly Reduces Daily Withdrawal Limits for Certain Users in Push for Regulatory Compliance.
30 Jul 2021, 08:00
Binance Significantly Reduces Daily Withdrawal Limits for Certain Users in Push for Regulatory Compliance
The global crypto exchange Binance is making a major change to its know-your-customer (KYC) policy.
CEO Changpeng Zhao just announced that Binance is significantly lowering the amount of cryptocurrency that certain traders can withdraw per day.
The platform now requires users to complete their identity verification to increase daily withdrawal limits up to 100 BTC. Users without full KYC will see a lower cap.
“We’re enhancing our KYC efforts to further our leadership in this area.