Binance Restricted Countries

Summary: Binance, a global cryptocurrency trading platform, imposes access limitations from multiple jurisdictions, such as the US, Singapore, Canada, and certain regions in the UK, due to regulatory implications. Trading activities for individuals residing in politically sensitive and embargoed nations are also constrained. All Binance users are required to undergo KYC (Know Your Customer) protocols. The exchange is currently available in over 100 countries worldwide.

What Countries Does Binance Restrict?

Binance has faced some regulatory restrictions in several jurisdictions worldwide. There are a few countries where the exchange provides full services, except for certain states or provinces. In the United States, it operates a separate entity, Binance.US, due to stringent financial regulations. 

The United Kingdom's Financial Conduct Authority (FCA) has prohibited Binance from conducting regulated activities in the UK. In Japan, the Financial Services Agency (FSA) issued warnings about the platform operating without registration. Similarly, the Canadian province Ontario's Securities Commission deemed Binance's operations non-compliant, leading to its exit from the province. The Monetary Authority of Singapore has also placed the platform under scrutiny. For a full list of the restricted locations, visit section 3.b of Binance’s terms and conditions.

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What Countries Does Binance Support?

Binance, the world-renowned cryptocurrency exchange, maintains a broad global reach, catering to digital asset enthusiasts in over 100 countries worldwide. However, certain jurisdictions, including the United States, have distinct versions of the platform, such as Binance.US, to comply with local financial regulations. It's imperative to note that while Binance aims to provide universal accessibility, specific services, and functions might differ depending on local regulations and restrictions. Refer to the below for a quick overview of Binances supported countries:

• Africa: Nigeria & South Africa.
• Asia & Pacific:  Afghanistan, Australia, Bangladesh, Cambodia, India, Indonesia, Japan, Kazakhstan, Mongolia, Myanmar, New Zealand, Pakistan, Philippines, Taiwan & Vietnam.
• Europe: Bulgaria, Czech Republic, France, Greece, Hungary, Italy, Latvia, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, Spain, Switzerland, Turkey & Ukraine.
• Middle East: Egypt, Israel, Saudi Arabia & United Arab Emirates.
• The Americas: Argentina, Brazil, Canada, Chile, Colombia, Mexico & Peru.

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Does Binance Require KYC?

Binance maintains a rigorous Know Your Customer (KYC) process to ensure a secure trading environment and comply with regulatory norms. Upon registration, users must complete an identity verification procedure comprising several steps. First, users must provide personal information, including full name, date of birth, and residential address. Secondly, they are asked to submit a government-issued ID, such as a passport or driver's license, and a selfie for facial recognition. Sometimes, users may also need to provide proof of address documents. 

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Can I Use Binance in the US?

No, the platform isn't accessible to users in the United States due to regulatory constraints imposed by U.S. laws. To navigate this, Binance launched Binance.US in 2019, a separate, fully compliant platform designed to cater to U.S. users. Operating under a completely different entity, Binance.US offers a variety of cryptocurrency trading options, maintaining strict compliance with federal and state laws and regulations. This strategic move enabled Binance to meet the unique needs of the American market while staying aligned with the regulatory framework. 

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Bottom Line

To sum up, Binance currently restricts its services to several countries, including Malaysia, Singapore, Canada, and more. The exchange can be used in over 100 countries and supports 40 different languages including English, Spanish, Portuguese, Turkish, Greek, Italian, French, Vietnamese, Cantonese, Mandarin and more.