Exchange users have their own deadlines for submitting the documentation on the platform.

The measure comes after the possible launch of a Binance card in the country.

The collection of employment information responds to international regulations.

The Bitcoin (BTC) and cryptocurrency exchange Binance began sending preventive notifications to its P2P merchants in Venezuela, requesting the mandatory update of their employment data in order to maintain full operability of their accounts.

The digital notice goes directly to the phones of Venezuelan users, the firm Cointable.app reported.

The message explicitly alerts to an immediate requirement to avoid operational restrictions in using the service. The exchange states verbatim: «Necessary action: Update employment information». Likewise, the message inside the app indicates: «Update your employment information before the deadline to maintain full access to your account. Tap here to update it now».

This request may respond to compliance with international regulations on know your customer (KYC) and anti-money laundering (AML) prevention. These rules require financial institutions to verify users’ real identity and the origin of their money.

Regarding the update of employment data, the exchange did not set a single deadline for all users. According to Cointable.app, each account has a specific individual deadline to submit the required documentation.

The possible arrival of a Binance card

This requirement arises in a context of expectations following the publication of a video on Binance’s X account. In that audiovisual piece, through a blur effect, the interface of what appears to be a Binance card for the Venezuelan market can be seen, as CriptoNoticias explained.

This corporate signal is joined by statements from cryptocurrency specialist attorney Ana Ojeda. The jurist stated that this move would include the entry of a card backed by Mastercard and the obtaining of a formal license to operate in Venezuela.

Meanwhile, business development specialist Kevin Hernández projected an impact on the local market after stating that «Binance will soon put to sleep the regulated options in Venezuela», adding that the company «will come with everything, and by everything I mean a license».

Source:

https://www.criptonoticias.com/comunidad/binance-comerciantes-p2p-venezuela-actualizar-datos-laborales/