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👉👉👉 #EU banking authority extends Anti-Money Laundering guidance to crypto
1. Scope of AML/CTF Guidelines: The European Banking Authority (EBA) has expanded the European Union's Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) guidelines to include European crypto companies.
2. Objective of Amendments: The amended guidelines, effective from December 30, 2023, aim to assist crypto asset service providers (CASPs) in identifying exposure risks to financial crimes related to customers, products, delivery channels, and geographical locations.
3. Adjustments to Financial Crime Measures: Crypto firms are advised to adjust their financial crime prevention measures based on the guidelines, potentially incorporating tools like #blockchain analytics.
4. Implementation Date: The guidelines came into effect on December 30, 2023.
5. Harmonization of Approach: The EBA views these amendments as a crucial step in the EU's fight against financial crime, promoting a harmonized approach across the union to mitigate money laundering and terror financing risks for crypto firms.
6. Specific Guidance for Crypto Firms: The updated guidelines offer specific guidance to financial firms holding #cryptocurrencies or serving crypto entities, addressing risks associated with anonymity-enhancing features, self-hosted wallets, decentralized platforms, and products facilitating transfers.
7. EU's Broader Regulatory Landscape: This move aligns with the EU's comprehensive regulatory efforts in the crypto space, including the Transfer of Funds Regulation (ToFR) and the Markets in Crypto-Assets (MiCA) regulations finalized last year.
8. MiCA Implementation: MiCA's crypto investor protections are set to take effect in December, with an optional 18-month transitional period for CASPs to operate unlicensed in EU member states.
Source - cointelegraph.com
#CryptoNews #BinanceSquare
1. Scope of AML/CTF Guidelines: The European Banking Authority (EBA) has expanded the European Union's Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) guidelines to include European crypto companies.
2. Objective of Amendments: The amended guidelines, effective from December 30, 2023, aim to assist crypto asset service providers (CASPs) in identifying exposure risks to financial crimes related to customers, products, delivery channels, and geographical locations.
3. Adjustments to Financial Crime Measures: Crypto firms are advised to adjust their financial crime prevention measures based on the guidelines, potentially incorporating tools like #blockchain analytics.
4. Implementation Date: The guidelines came into effect on December 30, 2023.
5. Harmonization of Approach: The EBA views these amendments as a crucial step in the EU's fight against financial crime, promoting a harmonized approach across the union to mitigate money laundering and terror financing risks for crypto firms.
6. Specific Guidance for Crypto Firms: The updated guidelines offer specific guidance to financial firms holding #cryptocurrencies or serving crypto entities, addressing risks associated with anonymity-enhancing features, self-hosted wallets, decentralized platforms, and products facilitating transfers.
7. EU's Broader Regulatory Landscape: This move aligns with the EU's comprehensive regulatory efforts in the crypto space, including the Transfer of Funds Regulation (ToFR) and the Markets in Crypto-Assets (MiCA) regulations finalized last year.
8. MiCA Implementation: MiCA's crypto investor protections are set to take effect in December, with an optional 18-month transitional period for CASPs to operate unlicensed in EU member states.
Source - cointelegraph.com
#CryptoNews #BinanceSquare
🟠 #RobinhoodApp launches commission-free crypto #trading app in #EU
More than 25 tokens are available to trade, including $BTC , $ETH & $SOL
More than 25 tokens are available to trade, including $BTC , $ETH & $SOL
European Central Bank has warned countries' finance ministers that higher interest rates could hurt some EU banks.
#EU #bank #banks #centralbank
#EU #bank #banks #centralbank
#CryptoWallets becomes one of the few companies that managed to renew an Estonian virtual asset provider license amid tighter regulatory measures in the #EU
#crypto2023 #BTC #Binance
#crypto2023 #BTC #Binance
Binance bans Russian ruble trading by EU citizens
#Binance one of the largest cryptocurrency exchanges in the world, has recently announced that it will be banning European Union (EU) citizens from trading Russian rubles. This decision comes after a series of regulatory challenges faced by the exchange, which has been operating in a number of countries without proper authorization.
The ban on trading rubles by #EU citizens will go into effect on March 21, 2023, and will apply to all users residing in the European Union. According to the announcement made by Binance, the decision to ban EU citizens from trading rubles was made in response to changes in regulatory policies, and the exchange's desire to comply with local laws and regulations.
This move is not entirely surprising, given the fact that Binance has faced regulatory pressure from a number of countries in recent years. In particular, the exchange has come under scrutiny from regulators in the United States, the United Kingdom, and Japan, among others, for operating without proper licenses and registrations.
Binance's decision to ban EU citizens from trading rubles is likely to be viewed as a step towards greater regulatory compliance. By limiting its operations in certain regions, the exchange is demonstrating a willingness to work with regulators and to abide by local laws and regulations.
However, the decision is also likely to be viewed as a disappointment by many EU-based cryptocurrency traders, who have relied on Binance as a reliable and convenient platform for #trading rubles. With the ban in place, EU-based traders will need to find alternative platforms for trading rubles, which may not be as convenient or as reliable as Binance.
The ban is also likely to have an impact on the wider #cryptocurrency market, as it could limit the availability of rubles on global exchanges. This could result in a reduction in liquidity for ruble-denominated trading pairs, which could make it more difficult for traders to buy and sell rubles.
Overall, Binance's decision to ban EU citizens from trading rubles is a significant development for the cryptocurrency market. While it may be seen as a step towards greater regulatory compliance, it is also likely to have a negative impact on EU-based traders, who will now need to find alternative platforms for trading rubles.
The ban on trading rubles by #EU citizens will go into effect on March 21, 2023, and will apply to all users residing in the European Union. According to the announcement made by Binance, the decision to ban EU citizens from trading rubles was made in response to changes in regulatory policies, and the exchange's desire to comply with local laws and regulations.
This move is not entirely surprising, given the fact that Binance has faced regulatory pressure from a number of countries in recent years. In particular, the exchange has come under scrutiny from regulators in the United States, the United Kingdom, and Japan, among others, for operating without proper licenses and registrations.
Binance's decision to ban EU citizens from trading rubles is likely to be viewed as a step towards greater regulatory compliance. By limiting its operations in certain regions, the exchange is demonstrating a willingness to work with regulators and to abide by local laws and regulations.
However, the decision is also likely to be viewed as a disappointment by many EU-based cryptocurrency traders, who have relied on Binance as a reliable and convenient platform for #trading rubles. With the ban in place, EU-based traders will need to find alternative platforms for trading rubles, which may not be as convenient or as reliable as Binance.
The ban is also likely to have an impact on the wider #cryptocurrency market, as it could limit the availability of rubles on global exchanges. This could result in a reduction in liquidity for ruble-denominated trading pairs, which could make it more difficult for traders to buy and sell rubles.
Overall, Binance's decision to ban EU citizens from trading rubles is a significant development for the cryptocurrency market. While it may be seen as a step towards greater regulatory compliance, it is also likely to have a negative impact on EU-based traders, who will now need to find alternative platforms for trading rubles.
Regulations are set in motion by the UK and EU, while the US observes
In recent years, there has been a growing interest in the regulation of #Cryptocurrencies and the #blockchain industry as a whole. While some countries have taken an active approach towards regulating the industry, others have been slow to act. This has resulted in a complex regulatory landscape with varying degrees of oversight depending on the jurisdiction. In this article, we will explore the recent regulatory actions taken by the UK and EU while the US observes.
The UK's Regulatory Action
The UK has taken a proactive approach to the #Regulation of cryptocurrencies and the blockchain industry. In January 2021, the UK's Financial Conduct Authority (FCA) introduced a new regulatory regime for cryptocurrencies. Under the new regime, any firm offering cryptocurrency services must be registered with the FCA and comply with anti-money laundering and counter-terrorism financing regulations.
In addition to the FCA's regulatory action, the UK's Treasury has also been exploring the possibility of creating a central bank digital currency (CBDC). A CBDC is a digital version of a country's fiat currency that is issued and regulated by the central bank. The UK's Treasury has announced that it will be conducting a consultation on the possibility of introducing a CBDC later this year.
The EU's Regulatory Action
The European Union has also been taking steps towards regulating the cryptocurrency and blockchain industry. In September 2020, the #EU proposed a comprehensive regulatory framework for cryptocurrencies and blockchain technology. The proposed framework includes new rules for digital currencies, such as stablecoins, and aims to establish a level playing field for all digital currency providers.
The proposed framework also includes a requirement for all digital currency providers to be registered with the relevant national authority and to comply with anti-money laundering and counter-terrorism financing regulations. The framework is still under discussion, but it is expected to be implemented in the coming years.
The US Observes
While the UK and EU have taken proactive measures towards regulating the cryptocurrency and blockchain industry, the US has been more cautious. The US has not yet introduced a comprehensive regulatory framework for cryptocurrencies and blockchain technology. Instead, regulatory oversight falls under the purview of various agencies, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
However, the US government has recently shown an increased interest in the regulation of cryptocurrencies. In January 2021, the US Office of the Comptroller of the Currency (OCC) issued a letter that allows banks to use stablecoins and blockchain technology for payment activities. This was seen as a positive step towards the integration of cryptocurrencies into the mainstream financial system.
Conclusion
The regulation of cryptocurrencies and the blockchain industry is a complex issue that requires a coordinated effort from governments and regulatory bodies around the world. While the UK and EU have taken proactive steps towards creating a comprehensive regulatory framework, the US has been more cautious. It remains to be seen how the regulatory landscape will evolve in the coming years, but it is clear that cryptocurrencies and blockchain technology are here to stay. As such, governments and regulatory bodies must continue to work towards creating a regulatory environment that fosters innovation while protecting consumers and investors.
The UK's Regulatory Action
The UK has taken a proactive approach to the #Regulation of cryptocurrencies and the blockchain industry. In January 2021, the UK's Financial Conduct Authority (FCA) introduced a new regulatory regime for cryptocurrencies. Under the new regime, any firm offering cryptocurrency services must be registered with the FCA and comply with anti-money laundering and counter-terrorism financing regulations.
In addition to the FCA's regulatory action, the UK's Treasury has also been exploring the possibility of creating a central bank digital currency (CBDC). A CBDC is a digital version of a country's fiat currency that is issued and regulated by the central bank. The UK's Treasury has announced that it will be conducting a consultation on the possibility of introducing a CBDC later this year.
The EU's Regulatory Action
The European Union has also been taking steps towards regulating the cryptocurrency and blockchain industry. In September 2020, the #EU proposed a comprehensive regulatory framework for cryptocurrencies and blockchain technology. The proposed framework includes new rules for digital currencies, such as stablecoins, and aims to establish a level playing field for all digital currency providers.
The proposed framework also includes a requirement for all digital currency providers to be registered with the relevant national authority and to comply with anti-money laundering and counter-terrorism financing regulations. The framework is still under discussion, but it is expected to be implemented in the coming years.
The US Observes
While the UK and EU have taken proactive measures towards regulating the cryptocurrency and blockchain industry, the US has been more cautious. The US has not yet introduced a comprehensive regulatory framework for cryptocurrencies and blockchain technology. Instead, regulatory oversight falls under the purview of various agencies, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
However, the US government has recently shown an increased interest in the regulation of cryptocurrencies. In January 2021, the US Office of the Comptroller of the Currency (OCC) issued a letter that allows banks to use stablecoins and blockchain technology for payment activities. This was seen as a positive step towards the integration of cryptocurrencies into the mainstream financial system.
Conclusion
The regulation of cryptocurrencies and the blockchain industry is a complex issue that requires a coordinated effort from governments and regulatory bodies around the world. While the UK and EU have taken proactive steps towards creating a comprehensive regulatory framework, the US has been more cautious. It remains to be seen how the regulatory landscape will evolve in the coming years, but it is clear that cryptocurrencies and blockchain technology are here to stay. As such, governments and regulatory bodies must continue to work towards creating a regulatory environment that fosters innovation while protecting consumers and investors.
European Parliament passes EU digital wallet legislation.
#DigitalEuro #digitalcurrency #EU #EURO #BTC
#DigitalEuro #digitalcurrency #EU #EURO #BTC
🚨 BIG BREAKING 🚨
"EU Declares Self-Custody Crypto Wallets Illegal Under Anti-Money Laundering Laws: Privacy at Risk?"
In a seismic development, Europe has criminalized self-custody crypto wallets, citing concerns over anti-money laundering legislation. Critics question whether this move is a thinly veiled attempt to exert greater control over citizens' financial autonomy. Is Europe exploiting these laws to justify pervasive surveillance? Many fear the erosion of privacy rights in the wake of this controversial decision.
#EU #Blocked #Btc #2024 #lawsUpdate 🚨
"EU Declares Self-Custody Crypto Wallets Illegal Under Anti-Money Laundering Laws: Privacy at Risk?"
In a seismic development, Europe has criminalized self-custody crypto wallets, citing concerns over anti-money laundering legislation. Critics question whether this move is a thinly veiled attempt to exert greater control over citizens' financial autonomy. Is Europe exploiting these laws to justify pervasive surveillance? Many fear the erosion of privacy rights in the wake of this controversial decision.
#EU #Blocked #Btc #2024 #lawsUpdate 🚨
The EU is preparing for the MiCA law with the help of crypto experts
The Paris-based agency will oversee large stablecoins under MiCA and make rules under the landmark enabling law.
The European Banking Authority (EBA) is hiring employees with crypto knowledge to prepare for tasks under the European Union's upcoming Regulation on Markets in Crypto Assets (MiCA), according to the job advertisement published on Wednesday.
The Paris-based agency will be tasked with overseeing large stablecoins and drafting rules to fill in details of MiCA left open by lawmakers.
EBH announced that it is looking for a person with " thorough knowledge of crypto products and services " as well as several years of supervisory experience in financial institutions to carry out the task of " carrying out preparatory steps and creating a supervisory function " within the framework of MiCA.
EBH President José Manuel Campa previously told the Financial Times that he was concerned that he would not be able to comply with MiCA rules if he could not find the right qualified staff.
The EU has recently finalized the Markets in Cryptographic Assets (MiCA) legislation, which has a strong focus on stablecoins, and will apply to all 27 member states. There is still a long way to go before the details are enacted into law. If these are available, then certain details still need to be clarified, and the additional rules can come after that.
Policymakers representing the world's third largest economy have been negotiating the MiCA (Markets in Crypto Assets) framework for nearly two years. As it stands, the legislative package requires cryptocurrency issuers to publish a kind of technical manifesto called a “white paper,” register with authorities, and maintain adequate bank-like reserves for stablecoins.
For more content, follow us here, on Twitter, or visit our blog.
#crypto2023 #cryptocurrency #EU #MiCA #Regulation
The European Banking Authority (EBA) is hiring employees with crypto knowledge to prepare for tasks under the European Union's upcoming Regulation on Markets in Crypto Assets (MiCA), according to the job advertisement published on Wednesday.
The Paris-based agency will be tasked with overseeing large stablecoins and drafting rules to fill in details of MiCA left open by lawmakers.
EBH announced that it is looking for a person with " thorough knowledge of crypto products and services " as well as several years of supervisory experience in financial institutions to carry out the task of " carrying out preparatory steps and creating a supervisory function " within the framework of MiCA.
EBH President José Manuel Campa previously told the Financial Times that he was concerned that he would not be able to comply with MiCA rules if he could not find the right qualified staff.
The EU has recently finalized the Markets in Cryptographic Assets (MiCA) legislation, which has a strong focus on stablecoins, and will apply to all 27 member states. There is still a long way to go before the details are enacted into law. If these are available, then certain details still need to be clarified, and the additional rules can come after that.
Policymakers representing the world's third largest economy have been negotiating the MiCA (Markets in Crypto Assets) framework for nearly two years. As it stands, the legislative package requires cryptocurrency issuers to publish a kind of technical manifesto called a “white paper,” register with authorities, and maintain adequate bank-like reserves for stablecoins.
For more content, follow us here, on Twitter, or visit our blog.
#crypto2023 #cryptocurrency #EU #MiCA #Regulation
Under EU digital wallet law, citizens will be able to access public services with their own digital wallet. With zero knowledge proof (ZK-proof), the privacy of users will be protected.
#EU #wallet #BTC #crypto2023 #Binance
#EU #wallet #BTC #crypto2023 #Binance
EU Antitrust Chief Says Metaverse Competition Issues Need To Be Addressed.
Follow Me For The Latest News. 🗞️
#EU #Metaverse #BTC
Follow Me For The Latest News. 🗞️
#EU #Metaverse #BTC
Smart Contract Immutability Threatened By EU Parliament’s Data Act
The European Union (EU) Council has agreed to amend the Data Law, which mandates a ‘kill switch’ for applications using smart contracts, according to local industry sources.
This comes after the EU Parliament passed the ‘Data Act‘ on March 14, which weakens the immutability of smart contracts. The bill includes regulations requiring smart contracts to have access control, transaction confidentiality protection, and suspend and reset functions.
However, the decentralized finance (DeFi) market is protesting that these functions required by the bill may undermine the original purpose of smart contracts, which are contracts that are automatically executed through code recorded on a public blockchain without an intermediary. The DeFi market argues that the bill could potentially compromise the public and immutable nature of smart contracts, which is a fundamental aspect of blockchain technology.
Popular decentralized exchange (DEX) Curve Finance has already spoken out against the bill, saying that it is impossible to implement. Other players in the DeFi market are likely to follow suit, as they consider the bill to be a significant threat to their operations.
The bill went to a three-way consultation in which the European Union Parliament, the Council and the Executive Committee discussed details. The first related meeting was held on the same day that the EU Council agreed to amend the Data Law. The final draft of the data law will be decided after negotiations between the Parliament and the Council through the mediation of the European Commission.
The passing of the Data Act and the subsequent amendment of the Data Law highlights the ongoing debate around the regulation of blockchain technology and its applications. While some argue that regulations are necessary to ensure the protection of users and to prevent abuse, others argue that excessive regulation could stifle innovation and compromise the core principles of blockchain technology. As the DeFi market continues to grow and evolve, it is likely that similar debates will continue to emerge in the future.
#EU #Data #smartcontract #crypto2023 #azcoinnews
This article was republished from azcoinnews.com
This comes after the EU Parliament passed the ‘Data Act‘ on March 14, which weakens the immutability of smart contracts. The bill includes regulations requiring smart contracts to have access control, transaction confidentiality protection, and suspend and reset functions.
However, the decentralized finance (DeFi) market is protesting that these functions required by the bill may undermine the original purpose of smart contracts, which are contracts that are automatically executed through code recorded on a public blockchain without an intermediary. The DeFi market argues that the bill could potentially compromise the public and immutable nature of smart contracts, which is a fundamental aspect of blockchain technology.
Popular decentralized exchange (DEX) Curve Finance has already spoken out against the bill, saying that it is impossible to implement. Other players in the DeFi market are likely to follow suit, as they consider the bill to be a significant threat to their operations.
The bill went to a three-way consultation in which the European Union Parliament, the Council and the Executive Committee discussed details. The first related meeting was held on the same day that the EU Council agreed to amend the Data Law. The final draft of the data law will be decided after negotiations between the Parliament and the Council through the mediation of the European Commission.
The passing of the Data Act and the subsequent amendment of the Data Law highlights the ongoing debate around the regulation of blockchain technology and its applications. While some argue that regulations are necessary to ensure the protection of users and to prevent abuse, others argue that excessive regulation could stifle innovation and compromise the core principles of blockchain technology. As the DeFi market continues to grow and evolve, it is likely that similar debates will continue to emerge in the future.
#EU #Data #smartcontract #crypto2023 #azcoinnews
This article was republished from azcoinnews.com
#Europe Embraces #Cryptocurrencies : What it Means for You on #Binance .
The European Union (#EU ) is taking a proactive stance on cryptocurrencies. With the introduction of the Markets in Crypto-Assets (#MiCA ) regulation coming into effect later this year, Europe is poised to become a major player in the crypto space.
**What is MiCA and How Does it Impact You?**
MiCA establishes a unified legal framework for crypto-assets across the EU. This translates to a more regulated and potentially safer environment for European crypto users, including you! Here's a breakdown of what MiCA might mean for you:
* **Increased Transparency:** MiCA aims to enhance transparency within crypto-asset service providers. This could mean clearer information about fees, risks, and how your crypto assets are held.
* **Consumer Protection:** MiCA prioritizes consumer protection. You might benefit from stronger safeguards against fraud and market manipulation.
* **Potential Innovation Hub:** A clear regulatory framework could foster innovation within the European crypto industry. This could lead to the development of new and exciting crypto products and services on Binance.
**The Future of Crypto in Europe**
The introduction of MiCA signifies a significant step towards mainstream adoption of cryptocurrencies in Europe. While the full impact remains to be seen, it creates an exciting environment for the future of crypto.
**Join the Discussion!**
Share your thoughts on MiCA and the future of crypto in Europe in the comments below. Let's discuss what this means for you and your crypto journey on Binance.
**Disclaimer:** This information is for educational purposes only and should not be considered investment advice. Please consult with a financial professional before making any investment decisions.
The European Union (#EU ) is taking a proactive stance on cryptocurrencies. With the introduction of the Markets in Crypto-Assets (#MiCA ) regulation coming into effect later this year, Europe is poised to become a major player in the crypto space.
**What is MiCA and How Does it Impact You?**
MiCA establishes a unified legal framework for crypto-assets across the EU. This translates to a more regulated and potentially safer environment for European crypto users, including you! Here's a breakdown of what MiCA might mean for you:
* **Increased Transparency:** MiCA aims to enhance transparency within crypto-asset service providers. This could mean clearer information about fees, risks, and how your crypto assets are held.
* **Consumer Protection:** MiCA prioritizes consumer protection. You might benefit from stronger safeguards against fraud and market manipulation.
* **Potential Innovation Hub:** A clear regulatory framework could foster innovation within the European crypto industry. This could lead to the development of new and exciting crypto products and services on Binance.
**The Future of Crypto in Europe**
The introduction of MiCA signifies a significant step towards mainstream adoption of cryptocurrencies in Europe. While the full impact remains to be seen, it creates an exciting environment for the future of crypto.
**Join the Discussion!**
Share your thoughts on MiCA and the future of crypto in Europe in the comments below. Let's discuss what this means for you and your crypto journey on Binance.
**Disclaimer:** This information is for educational purposes only and should not be considered investment advice. Please consult with a financial professional before making any investment decisions.
LIVE
Binance Announcement
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Binance Exchange Link: Mandatory Identity Verification (KYC) Requirements
Fellow Binancians,
Please kindly note that all sub-accounts created by Exchange Link account holders under the Binance Link Program must adhere to Binance’s enhanced compliance standards. This includes non-trading sub-accounts created solely for asset deposit purposes.
Only verified and compliant users will be granted access to their sub-accounts. Starting from 2024-03-20, Binance has been applying restrictions to sub-accounts that have not had compliant Know Your Customer (KYC) documentation in place. By 2024-05-20, sub-accounts holders that have not provided the necessary KYC information will have their accounts fully restricted and will no longer have access to the Binance Link Program services.
Exchange Link account holders should ensure that they have fully integrated with the Link-KYC module. Exchange Link account holders must provide any additional user information on behalf of their sub-account holders upon request via the Link-KYC module. This may include, but is not limited to information relating to: Source of Funds, Source of Wealth, and Proof of Address. Exchange Link account holders should be prepared to provide such information on their sub-account users. Incomplete user information will result in a failure to onboard a sub-account user. Please note, Binance will only communicate directly with the Exchange Link account holders and will not be responsible for communicating with sub-account users.
Details on RFI (Request For Information) are stated below:
Source of Funds include:Salary; self-employment income; savings; allowance; pension; dividends; payments/profits from a company; day trading; gambling; passive income; loans/mortgages; sale of financial assets; sale of real estate or other assets; inheritance; donations.Source of Wealth includes: Salary; self-employed income; inheritance; donation; mortgages/loans; company profits (shares/dividends); financial investment; crypto investments.Proof of Address includes: Utility bills, such as electricity, water, gas or sewerage; internet service provider account statement; landline telephone bill (mobile bills are not acceptable); body corporate disclosure statement; building management statements; home insurance statement; mortgage statement; bank or credit card statement; bank reference letter stamped and/or signed; student rental agreement from university residence or university housing/halls; letter from a university to confirm student attends and their current residential address; government-issued student grants/loans or bursaries to a current residential address.Politically Exposed Persons (PEP) Declaration Binance may require the sub-account holders to complete a questionnaire for potential Politically Exposed Persons (PEPs). Exchange Link account holders can download the questionnaire for their sub-account holder(s) to complete via the Link-KYC integration document, which consists of the following questions: Are you a Politically Exposed Person (PEP) or related to a PEP?If you are a PEP, please provide the details of your PEP position, including: occupation/title, employer name, employer address, and employment dates.If you are related to a PEP, please provide the details of your relationship to the PEP.
Binance will impose the following restrictions on sub-accounts with incomplete KYC information:
Sub-Account RestrictionsServicesRestrictionDepositsRestrictedWithdrawalsAllowed, unless otherwise specifiedSpot TradingRestricted. Cannot place new orders and all existing spot orders will be canceledFutures TradingRestricted. Cannot place new orders, but can reduce existing positionsMargin TradingRestricted. Cannot place new orders, but can reduce existing positions
Notes:
In certain cases, the funds in a sub-account may be frozen and access to the sub-account may be restricted for legal and compliance reasons. In such cases, Binance may sometimes not be able to provide the Exchange Link account holder or their sub-account users with a detailed explanation for legal and compliance reasons.Restricted sub-accounts are also unable to receive deposits. Please kindly note that refund of misplaced deposits may take up to 45 days. There will also be an administrative fee of $200 or equivalent charged per appeal, regardless of the deposit size. All Exchange Link account holders are required to inform their sub-account users about these changes.
Access restrictions may be imposed where Binance Exchange Link account holders are uncontactable, unresponsive or uncooperative. In certain cases, Exchange Link account holders may have their Exchange Link accounts downgraded to a corporate account and unused sub-accounts deleted. These account holders will lose access to the Link Program and are not eligible to have their Exchange Link accounts reopened. Please reach out to link@binance.com if you have not received any of our email communications thus far or if you have any questions.Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
We appreciate your understanding and cooperation in making Binance secure, transparent, and user-friendly.
Thank you for your support!
Binance Team
2024-04-05
Please kindly note that all sub-accounts created by Exchange Link account holders under the Binance Link Program must adhere to Binance’s enhanced compliance standards. This includes non-trading sub-accounts created solely for asset deposit purposes.
Only verified and compliant users will be granted access to their sub-accounts. Starting from 2024-03-20, Binance has been applying restrictions to sub-accounts that have not had compliant Know Your Customer (KYC) documentation in place. By 2024-05-20, sub-accounts holders that have not provided the necessary KYC information will have their accounts fully restricted and will no longer have access to the Binance Link Program services.
Exchange Link account holders should ensure that they have fully integrated with the Link-KYC module. Exchange Link account holders must provide any additional user information on behalf of their sub-account holders upon request via the Link-KYC module. This may include, but is not limited to information relating to: Source of Funds, Source of Wealth, and Proof of Address. Exchange Link account holders should be prepared to provide such information on their sub-account users. Incomplete user information will result in a failure to onboard a sub-account user. Please note, Binance will only communicate directly with the Exchange Link account holders and will not be responsible for communicating with sub-account users.
Details on RFI (Request For Information) are stated below:
Source of Funds include:Salary; self-employment income; savings; allowance; pension; dividends; payments/profits from a company; day trading; gambling; passive income; loans/mortgages; sale of financial assets; sale of real estate or other assets; inheritance; donations.Source of Wealth includes: Salary; self-employed income; inheritance; donation; mortgages/loans; company profits (shares/dividends); financial investment; crypto investments.Proof of Address includes: Utility bills, such as electricity, water, gas or sewerage; internet service provider account statement; landline telephone bill (mobile bills are not acceptable); body corporate disclosure statement; building management statements; home insurance statement; mortgage statement; bank or credit card statement; bank reference letter stamped and/or signed; student rental agreement from university residence or university housing/halls; letter from a university to confirm student attends and their current residential address; government-issued student grants/loans or bursaries to a current residential address.Politically Exposed Persons (PEP) Declaration Binance may require the sub-account holders to complete a questionnaire for potential Politically Exposed Persons (PEPs). Exchange Link account holders can download the questionnaire for their sub-account holder(s) to complete via the Link-KYC integration document, which consists of the following questions: Are you a Politically Exposed Person (PEP) or related to a PEP?If you are a PEP, please provide the details of your PEP position, including: occupation/title, employer name, employer address, and employment dates.If you are related to a PEP, please provide the details of your relationship to the PEP.
Binance will impose the following restrictions on sub-accounts with incomplete KYC information:
Sub-Account RestrictionsServicesRestrictionDepositsRestrictedWithdrawalsAllowed, unless otherwise specifiedSpot TradingRestricted. Cannot place new orders and all existing spot orders will be canceledFutures TradingRestricted. Cannot place new orders, but can reduce existing positionsMargin TradingRestricted. Cannot place new orders, but can reduce existing positions
Notes:
In certain cases, the funds in a sub-account may be frozen and access to the sub-account may be restricted for legal and compliance reasons. In such cases, Binance may sometimes not be able to provide the Exchange Link account holder or their sub-account users with a detailed explanation for legal and compliance reasons.Restricted sub-accounts are also unable to receive deposits. Please kindly note that refund of misplaced deposits may take up to 45 days. There will also be an administrative fee of $200 or equivalent charged per appeal, regardless of the deposit size. All Exchange Link account holders are required to inform their sub-account users about these changes.
Access restrictions may be imposed where Binance Exchange Link account holders are uncontactable, unresponsive or uncooperative. In certain cases, Exchange Link account holders may have their Exchange Link accounts downgraded to a corporate account and unused sub-accounts deleted. These account holders will lose access to the Link Program and are not eligible to have their Exchange Link accounts reopened. Please reach out to link@binance.com if you have not received any of our email communications thus far or if you have any questions.Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
We appreciate your understanding and cooperation in making Binance secure, transparent, and user-friendly.
Thank you for your support!
Binance Team
2024-04-05
EU aims to lead in developing a values-driven metaverse, prioritizing citizen rights and consumer protection in the evolving digital landscape.
#EU #Europe #Metaverse
https://blockchainreporter.net/eu-sets-course-for-metaverse-development-aligned-with-european-values/
#EU #Europe #Metaverse
https://blockchainreporter.net/eu-sets-course-for-metaverse-development-aligned-with-european-values/
EU demands that Elon Musk censor Donald Trump in tonight’s interview
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Elon Musk, the man behind Tesla Motors, is catching heat from the European Commission. They’re demanding that he censor Donald Trump during an interview set to stream tonight on X, the social platform he owns formerly known as Twitter.
Thierry Breton, the EU’s internal market commissioner, has fired off a letter to Elon and X CEO Linda Yaccarino. The message? Clean up your platform, or face the consequences in Europe.
Breton isn’t messing around. He warned that if Elon doesn’t clamp down on illegal content like hate speech and incitement to violence, X Corp. could be slapped with penalties or even restrictions in the EU. His exact words were:
“We are monitoring the potential risks in the EU associated with the dissemination of content that may incite violence, hate, and racism.”
Breton wrote, referencing tonight’s planned interview with Trump. He demanded that Elon take swift action to ensure the platform’s systems are up to snuff and report back on what measures are being taken.
Yaccarino pushes back against EU pressure
Linda Yaccarino was quick with her response to the EU’s demands. She blasted the letter as an overreach, calling it “an unprecedented attempt to stretch a law intended to apply in Europe to political activities in the US.”
#ElonMusk #DonaldTrump #EU #Bitcoin #CryptoNews $BTC $BNB $SOL
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Elon Musk, the man behind Tesla Motors, is catching heat from the European Commission. They’re demanding that he censor Donald Trump during an interview set to stream tonight on X, the social platform he owns formerly known as Twitter.
Thierry Breton, the EU’s internal market commissioner, has fired off a letter to Elon and X CEO Linda Yaccarino. The message? Clean up your platform, or face the consequences in Europe.
Breton isn’t messing around. He warned that if Elon doesn’t clamp down on illegal content like hate speech and incitement to violence, X Corp. could be slapped with penalties or even restrictions in the EU. His exact words were:
“We are monitoring the potential risks in the EU associated with the dissemination of content that may incite violence, hate, and racism.”
Breton wrote, referencing tonight’s planned interview with Trump. He demanded that Elon take swift action to ensure the platform’s systems are up to snuff and report back on what measures are being taken.
Yaccarino pushes back against EU pressure
Linda Yaccarino was quick with her response to the EU’s demands. She blasted the letter as an overreach, calling it “an unprecedented attempt to stretch a law intended to apply in Europe to political activities in the US.”
#ElonMusk #DonaldTrump #EU #Bitcoin #CryptoNews $BTC $BNB $SOL
