Binance Australia Updates User Security Requirements in Line With ‘Compliance Efforts’

Binance Australia Updates User Security Requirements in Line With ‘Compliance Efforts’
Binance Australia has updated its security requirements for local residents looking to access crypto on the platform as part of its “compliance efforts,” the exchange said Wednesday.All new users must complete a verification process to access its products and services. Existing users who have not yet done so will have their account restricted to “withdrawal only”, whereby services will be limited to withdrawal and order cancellation.Binance Australia said the measures are intended to bolster its Know Your Customer and Anti-Money Laundering efforts. In a bid to minimize disruption to its users, the exchange also said its efforts will be carried…