Binance Will Implement Mandatory Authentication

Binance will implement mandatory authentication. This procedure will apply to all services.

Binance, which is seen as the world's largest cryptocurrency exchange, will implement mandatory authentication for all services, citing evolving global compliance standards. With immediate effect, all new users must complete Intermediate Verification to gain access to Binance products and all services, including cryptocurrency deposits, trading and withdrawals. Existing users who have not yet completed Intermediate Verification will reportedly have their account permissions temporarily changed to “Withdraw Only”. Thus, for the service access of these users; withdrawals will be limited to order cancellation, position closing and refunds. Other services will not be accessible until verification is complete. For existing users, this implementation will be done in stages from today until October 19, 2021 to minimize the negative impact on user experience. Users will be able to resume full access to Binance products and services after completing Intermediate Verification. In Intermediate Verification, users are asked to provide their identity documents and perform face verification. Binance has recently reduced the daily withdrawal limit from 2 BTC to 0.06 BTC for non-authenticated accounts.