Changes to Binance New Zealand Account Verification
As part of its long-term commitment to promoting Kiwis’ financial freedom, Binance has officially launched Binance New Zealand by registering on the New Zealand register of financial service providers.
The move signals a significant moment in the expansion of New Zealand’s burgeoning Web3 sector and an opportunity for Kiwis to trade confidently on the world’s leading exchange. New Zealand is the most recent of Binance’s registrations globally, following approvals in France, Italy and Spain, among others.
As part of the push to provide users with a more secure crypto experience, Binance New Zealand will update its user verification processes to enhance the existing AML/KYC safeguards and align them with local regulatory requirements.
Effective immediately, Binance New Zealand is making the following changes to account verification requirements:
All New Zealand-based users must accept new localised Terms & Conditions to keep using the platform.
All New Zealand-based users will be required to complete account verification to access Binance New Zealand products and service offerings, including cryptocurrency deposits, spot trading, and withdrawals.
New Zealand-based users must accept the new localised Terms & Conditions (including completing verification of their accounts) by 2022-10-31 22:00 (NZST). After this time, existing New Zealand-based users will have their account permissions set to “Withdraw only,” with services limited to withdrawal and order cancellation. Once users accept the localised Terms and Conditions (including verification), their full access to our products and services will be restored.
We strongly encourage users to complete the required account verification steps to avoid access restrictions.
Binance New Zealand is announcing these measures to help support its Know Your Customer (KYC) and Anti-Money Laundering (AML) efforts. This will further enhance user protection and help combat financial crime.
Investbybit Limited (trading as "Binance New Zealand") is a limited liability company duly incorporated in New Zealand (company number 7101293). Binance New Zealand is registered on the New Zealand register of financial service providers (FSP number FSP1003864) to provide a range of financial services. Binance New Zealand is not licensed by a New Zealand regulator to provide these financial services. Binance New Zealand's registration on the New Zealand register of financial service providers does not mean that Binance New Zealand is subject to active regulation or oversight by a New Zealand regulator.
To learn more about KYC and for a step-by-step guide on how to complete account identity verification, please see:
https://www.binance.com/en-NZ/support/faq/360027287111
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Binance New Zealand reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.