Binance, the World's largest cryptocurrency exchange, saidÌýit was bringing in stricter customer checks for anti-money laundering requirements with immediate effect, Reuters reported.
Binance has dialled back its products offerings, including leveraged trading and tokens linked to equities, and said it wanted to improve relations with regulators across the world, who were concerned in the recent months over the use of crypto to launder money and lax consumer protection.
The exchange announced that once users complete international verification, they will be able to resume full access to Binance products and services.
Binance said on its website that users would, with immediate effect, have to complete a verification process to access its products and services. Those who have not done so will only be able to withdraw funds, cancel orders and close positions.
The company'sÌýcorporate structure remains opaque.ÌýAccording to British court documents and Malaysia's securities watchdogÌýit's holding company is registered in the Cayman Islands,
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