Why is Binance suddenly not available in many countries?
Binance is currently one of the largest cryptocurrency exchange platforms with $40 billion in daily trading volume. But why do they keep getting shut down?
Well, it’s because compared to other exchanges, Binance has a very lax policy when it comes to KYC (Know Your Customer) that ensures that transactions are not being used for money laundering and terrorist financing.
As a response to this, Binance has updated its KYC policy, but it’s still not enough for most countries like Japan, Singapore, Malaysia, and some parts of the US (for Binance US, like Hawaii, Idaho, New York, Texas, etc.)
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