24.02.2025 15:40
Binance TR is making identity verification processes mandatory under new regulations. Accounts of users who do not complete the KYC process by April 25, 2025, will be suspended. The platform stated that it is implementing this change to combat financial crimes and enhance transparency.
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Binance TR, one of Turkey's major cryptocurrency exchanges, is making a comprehensive change to its identity verification processes for users. Starting from February 25, 2025, the platform will require all users to complete updated identity verification steps. If users do not complete their identity verification by April 25, 2025, their open positions will be automatically closed, and account functionalities will be suspended.
Accounts That Do Not Complete Identity Verification Will Be Suspended
Binance TR, one of Turkey's leading cryptocurrency trading platforms, is tightening its identity verification processes in the new era. Starting from February 25, 2025, the platform will require users to complete renewed identity verification steps before each login and transaction.
This change, implemented under the regulation numbered 32763 published in the Official Gazette last year, became mandatory with the recognition of cryptocurrency service providers as financial institutions. Binance TR will manage the KYC (Know Your Customer) process with requests for identity documents and selfies, in addition to additional document requests from its customers.
According to a statement from the platform, users are required to complete their identity verification processes by April 25, 2025. Users who do not complete the necessary steps by this date will have their open positions automatically closed and their accounts suspended. However, fiat withdrawals and trading transactions will continue within the framework of existing regulations.
Company officials emphasized that these changes are designed to minimally affect the user experience. Binance TR stated that these steps are taken to increase transparency in the Turkish cryptocurrency market and to comply with global standards in the fight against financial crimes. It was particularly emphasized that user data will be processed in accordance with the Personal Data Protection Law No. 6698. Finally, Binance TR announced that it will not be responsible for any grievances that may arise after the end of April.
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