SafePal crypto wallet imposed mandatory verification of Binance Trading dApp users
The restrictions will not affect other decentralized products and services
09.05.2022 - 13:40
592
1 min
0
What’s new? On May 9, SafePal, a decentralized cryptocurrency wallet, obliged Binance Trading dApp users to comply with anti-money laundering (AML) and know your customer (KYC) procedures. Starting May 12, new users of the app must be verified. Only withdrawals will be available to all existing users who fail verification by May 12. . This is reported on the SafePal blog.
What is known about SafePal? It is the first decentralized cryptocurrency wallet that implements the trading capabilities of the Binance cryptocurrency exchange in the SafePal mobile app. Through the Binance Trading dApp, one can use the exchange’s trading products and services within the wallet app. SafePal was founded in 2018.
What events happened before? In late 2021, Binance CEO Changpeng Zhao revealed that the exchange had lost around 3% of customers after the introduction of mandatory identification. The platform made the KYC procedure mandatory for users to meet regulatory requirements.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$98 891
BTC
+0.27%
-
Ethereum
$3 327.98
ETH
-1.21%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.46
XRP
+19.43%
-
Dogecoin
$0.409701
DOGE
+5.81%
-
Cardano
$1
ADA
+22.53%
-
Stellar XLM
$0.340281
XLM
+32.6%
-
Bitcoin Cash
$488.29
BCH
+0.28%
-
Polkadot
$6.64
DOT
+11.8%
-
Litecoin
$91.77
LTC
+2.59%