Binance Banking Partner to Ban Crypto Trading Transfers Under $100K – Exchanges Bitcoin News
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Binance, one of the world’s largest cryptocurrency exchanges, has recently announced that it is partnering with a banking partner to ban crypto trading transfers under $100K. The move comes as part of a larger effort to ensure that cryptocurrency exchanges comply with all applicable laws and regulations.
The new policy, which will go into effect in the near future, is part of Binance’s commitment to “protecting the integrity of the crypto ecosystem” and “ensuring the safety of customer funds.” The exchange has partnered with a banking partner that will be responsible for monitoring and blocking any transfers below the $100K threshold.
This move is the latest in a series of steps taken by the exchange to ensure that it is compliant with the laws and regulations that govern the cryptocurrency industry. Binance has previously implemented KYC (Know Your Customer) and AML (Anti-Money Laundering) protocols and has also announced plans to launch a regulated exchange in the U.S.
The new policy is likely to be welcomed by regulators and law enforcement agencies, as it will help to prevent money laundering and other criminal activities. It will also help to protect users from fraudsters who may attempt to use the exchange to launder funds or engage in other illegal activities.
The new policy is another example of how Binance is committed to staying ahead of the curve when it comes to compliance and security. The exchange has been at the forefront of the cryptocurrency industry since its launch in 2017 and has continued to innovate and evolve in order to remain a leader in the space.
The new policy is likely to be welcomed by the cryptocurrency community, as it will help to ensure that exchanges are compliant with applicable laws and regulations. It will also help to protect users from fraudsters and other criminals who may attempt to use the exchange to launder funds or engage in other illegal activities.
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