• Binance has asked prime brokers to increase their scrutiny of US investors.
• The exchange is increasingly adamant about bolstering its compliance measures.
• The trading platform has ceased services in multiple countries around the world.

Binance, the world’s largest digital asset trading platform by market volume, seeks to tighten controls to prevent United States investors from accessing its platform. 

Sources familiar with the matter told Bloomberg that Binance has instructed prime brokers, including FalconX and Hidden Road, to implement more rigorous checks on their clients. Notably, the exchange has stopped services in multiple nations recently due to regulatory policies and increased scrutiny.

Following the guilty pleas in November, Binance has been adamant about bolstering its compliance measures, demanding additional information from institutional traders. These checks involve inquiries about office locations, employee whereabouts, and founder residency, accompanied by signed attestations to ensure the accuracy of responses.

The catalyst for these stringent measures stems from Binance’s plea deal, which involved admitting to violations of US anti-m…

The post Binance Pushes Prime Brokers to Impose Stringent Checks on US Investors appeared first on Coin Edition.

• Binance has asked prime brokers to increase their scrutiny of US investors.
• The exchange is increasingly adamant about bolstering its compliance measures.
• The trading platform has ceased services in multiple countries around the world.

Binance, the world’s largest digital asset trading platform by market volume, seeks to tighten controls to prevent United States investors from accessing its platform. 

Sources familiar with the matter told Bloomberg that Binance has instructed prime brokers, including FalconX and Hidden Road, to implement more rigorous checks on their clients. Notably, the exchange has stopped services in multiple nations recently due to regulatory policies and increased scrutiny.

Following the guilty pleas in November, Binance has been adamant about bolstering its compliance measures, demanding additional information from institutional traders. These checks involve inquiries about office locations, employee whereabouts, and founder residency, accompanied by signed attestations to ensure the accuracy of responses.

The catalyst for these stringent measures stems from Binance’s plea deal, which involved admitting to violations of US anti-m…

The post Binance Pushes Prime Brokers to Impose Stringent Checks on US Investors appeared first on Coin Edition.