CZ reveals how many users left Binance after mandatory KYC
Binance CEO Changpeng Zhao shed new light on the exchange’s compliance roadmap and its users’ take on KYC so far. Major crypto exchange Binance took a compliance-friendly approach to its business after years of a cat-and-mouse game with regulators around the world, and it worked surprisingly well in terms of user retention, according to a new interview with Binance CEO Changpeng Zhao.Speaking to Bloomberg News, Zhao noted that Binance made Know Your Customer (KYC) processes mandatory “for global users, for every feature” in a bid to attract new users as a regulatory-compliant business. He....
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The number of users plays a critical role for a token to get listed on Binance, Changpeng Zhao said in an interview. The CEO of Binance, the world’s largest cryptocurrency exchange by volume, has disclosed some information on how to get listed on the trading platform.The most important criteria for listing a cryptocurrency on Binance is the number of users, CEO Changpeng Zhao said in a Forbes interview on Nov. 29.CZ went on to say that there are many other factors like the number of active addresses on blockchain, social media audience and code commits. However, the number of users is “the....
Data shows traders have mixed emotions about BNB’s future given Binance’s regulatory troubles and new mandatory KYC policy. Binance Coin (BNB) rallied 30% in two weeks, but the fourth largest cryptocurrency by market capitalization seems to be struggling to break the $450 resistance. Coincidently, this is the same top from June 3, which was followed by a 48% correction down to $225.Given the similarity of the situation when compared to previous instances, investors have reasons to doubt the recent performance, especially as Solana (SOL), a competing smart contract platform, reached an....