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🚨🚨🚨Binance Will Completely Restrict Non-KYC Subaccounts
#Binance the leading cryptocurrency exchange, has announced stricter know-your-customer (KYC) measures.
Starting in April. on September 20, unverified users who do not have the required KYC information will no longer be able to access their sub-accounts created as part of the Binance Link program.
This measure will also affect sub-accounts created solely for depositing cryptocurrencies.
The Binance Link program, launched in September 2019, makes it possible for businesses to scale their businesses with the help of Binance's technology. Exchanges, asset managers, trading bots, cryptocurrency wallet providers, etc. It offers a "plug and play API" to various customers, such as.
From now on, Exchange Link account holders are required to submit the KYC in order to continue using the services. Information that they may need to provide includes the source of funds, proof of address, etc. Includes.
Deposits of sub-accounts that do not have full KYC information will be restricted. Such users will not be able to place new orders or keep their existing orders. Futures and margin trading will also not be available for those with incomplete KYC knowledge.
Binance also noted that in some cases, assets belonging to sub-accounts may be blocked, and such accounts will also not be able to receive deposits.
In August 2021, Binance launched mandatory KYC verification for all existing users. These restrictions come after the stock market began to face increased regulatory scrutiny around the world.
