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According to the latest news, Binance has made a specific request to its brokers to thoroughly vet institutional clients. This includes providing detailed information about office locations, employees, and founders.
According to sources from Bloomberg, after signing an agreement with the US Department of Justice (DOJ) in November 2023, Binance has initiated the process of re-evaluating and identifying investors from the US. Specifically, Binance has asked its partners such as FalconX and Hidden Road, along with a number of others, to check information about customers, mainly institutions.
Binance wishes to collect additional information such as office addresses, employee addresses, and founders of these organizations. In addition, the exchange also requires an authenticated signature from the respondent to ensure the accuracy of the information.
According to a statement from the DOJ in November, in order to separate the parties involved, Binance employees contacted VIP investors in the US to ask them to provide proof that they were not US residents. .
Recently, Binance continued to cut operations by raising the standards for listing new tokens. This includes requiring projects to hold tokens for at least 6 months to 1 year, enhancing liquidity, and requiring a security deposit.
In response to requests from brokers to review customer files, Binance affirmed:
