Binance Restricted Countries (2024) (2024)

What Countries Does Binance Restrict?

Binance, the world's largest cryptocurrency exchange by users and trading volume, faces various international regulatory challenges, resulting in service restrictions in multiple countries.

• ‍United States: Binance operates through a separate platform, Binance.US, to comply with U.S. regulations.‍
• United Kingdom: The Financial Conduct Authority (FCA) has banned Binance from conducting any regulated activities, restricting its services in the UK.‍
• Japan: The Financial Services Agency (FSA) has issued a warning to Binance for operating without necessary regulatory approval, impacting its operations.‍
• Ontario, Canada: Binance has suspended services in Ontario due to non-compliance with the province's securities regulations.‍
• Singapore: The Monetary Authority of Singapore has restricted Binance's services, rendering them inaccessible to local investors.

For a comprehensive list of restricted regions, users should consult Section 3.b of Binance's terms and conditions.

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What Countries Does Binance Support?

Binance operates in over 100 countries, offering a wide range of digital asset services. However, local regulations can affect the availability of certain features. Here’s a detailed overview of the regions where Binance is active:

• ‍Africa: Binance supports users in Nigeria and South Africa, providing access to its comprehensive cryptocurrency trading platforms and services.‍
• Asia & Pacific: Binance operates in Afghanistan, Australia, Bangladesh, Cambodia, India, Indonesia, Japan, Kazakhstan, Mongolia, Myanmar, New Zealand, Pakistan, Philippines, Taiwan, and Vietnam, with services tailored to comply with local regulations.‍
• Europe: The platform is available in Bulgaria, Czech Republic, France, Greece, Hungary, Italy, Latvia, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, Spain, Switzerland, Turkey, and Ukraine, offering cryptocurrency services that meet European regulatory standards.‍
• Middle East: Binance serves users in Egypt, Israel, Saudi Arabia, and the United Arab Emirates, ensuring secure and regulated crypto trading options.‍
• The Americas: In the Americas, Binance is accessible in Argentina, Brazil, Canada, Chile, Colombia, Mexico, and Peru, with services adapted to comply with the diverse regulatory environments.

This summary highlights Binance's commitment to making its services widely available while adhering to local laws and regulations

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Is Binance Licensed?

Binance holds several key regulatory licenses globally, ensuring compliance and security. In Europe, it operates under registrations such as the Digital Asset Service Provider (DASP) in France and Italy, and the Virtual Asset Service Provider (VASP) in Lithuania and Spain. In the Middle East, Binance is licensed in Abu Dhabi and Bahrain for custody and exchange services.

Additionally, Binance is registered as a Digital Currency Exchange provider in Australia and operates under crypto asset regulations in Japan and Thailand. For more detailed information, visit the Binance Licenses page.

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Does Binance Require KYC?

Binance prioritizes user security and regulatory compliance through a thorough Know Your Customer (KYC) process. Here’s a breakdown of what the KYC process involves:

1. ‍Personal Information: Users must provide their full name, date of birth, and residential address.‍
2. Government-Issued ID: Uploading a passport, driver's license, or another form of government-issued identification is required.‍
3. Facial Recognition: A selfie for facial verification is needed to match your identity with the provided documents.‍
4. Additional Verification: In some cases, proof of address documents may be requested for further verification.

This KYC process not only enhances security but also ensures Binance complies with international financial regulations. For the most up-to-date and accurate information, always check the official Binance website or contact their customer service.

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Can I Use Binance in the US?

Binance's main platform is not available to U.S. users due to regulatory restrictions. Instead, Binance operates Binance.US, a separate entity launched in 2019 to comply with U.S. regulations, providing a range of cryptocurrency trading options.

However, Binance.US has encountered significant issues, such as a temporary suspension of U.S. dollar withdrawals and deposits following a court asset freeze request by the U.S. Securities and Exchange Commission (SEC). Currently, users must convert U.S. dollars to stablecoins or other digital assets for withdrawal.

The SEC has also filed charges against Binance and its U.S. operations, alleging inflated trading volumes and misuse of customer funds.

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Bottom Line

In summary, Binance faces regulatory restrictions in countries like the U.S., UK, Japan, Ontario (Canada), and Singapore, limiting its services. However, it operates in over 100 countries, including major regions in Europe, Africa, Asia, the Middle East, and the Americas. Binance ensures compliance and security through multiple regulatory licenses.

For the latest details on restrictions and supported regions, visit the official Binance website or consult their terms and conditions.