The largest crypto exchange Binance, with which a lot of unpleasant news has been associated recently, announced that from 20.08 all clients will undergo the KYC procedure.
The exchange is in a state of permanent review by regulators; in a number of countries, Binance has been suspended. As a remedy, the crypto exchange publicly announced new Know Your Customer (KYC) requirements for all platform users.
“Immediately, all new users must pass interim verification to access Binance products and service offerings, including cryptocurrency deposits, transactions and withdrawals,” the press service said in a statement. For existing users who will not comply with the new KYC and AML requirements, restrictions on the provision of services will be introduced. If earlier they could trade cryptocurrency without verification, now only “withdrawing funds, canceling an order, closing a position and repayment” is possible. The changes will take place in stages, and, I must say, this is a logical concession from the exchange. It’s strange that this hasn’t been done before.
Today, the GamblersPick service published data from a survey of 1,000 American crypto investors, which revealed that the average millennial owns about $ 1,800 worth of cryptocurrencies.
25% of respondents bought cryptocurrency using credit cards and borrowed about $ 500 from banks and family members to supplement their existing portfolio. When asked about the source of future investments in cryptocurrency, 21% of researchers revealed their plan to pay off consumer debt, and another 20% decided to use either their bank savings or refinance at home.
Surprisingly, baby boomers borrowed more than $ 4,000 on average to buy cryptocurrencies. Compared to this, new generations have taken fewer loans to expand their crypto portfolios.
We will be interested if you share in the comments which group you belong to)
Rounding out the news for today is a message from Coinbase. The CEO of the exchange announced that the company will buy $ 500 million in cryptocurrency and invest 10% of all future profits in digital assets.
The percentage of profits spent on cryptocurrency is expected to rise over time.
A post on the official blog on August 20, published by Coinbase on the same day, announces that the move will make the exchange the first public company to hold Ether, DeFi tokens and Proof-of-Stake assets on its balance sheet.
The statement emphasizes that Coinbase’s investment in the crypto sector can only be a long-term investment. We seem to see a new whale emerge)