Warning to crypto investors: Accounts may be temporarily suspended

Cryptocurrency exchange Binance TR has issued an important announcement to its users. Within the framework of legal regulations that came into effect last year, it was stated that users must complete their identity verification processes by April 25.

According to the company's statement, the amendments made to the Capital Markets Law in July 2024 and the secondary regulations published by MASAK in December brought fundamental changes to identity verification processes. With these regulations, crypto asset service providers are considered financial institutions and are subject to high security and compliance standards. Binance TR has also updated its identity verification processes to comply with these new regulations.

In the statement, the importance of users completing their identity verification processes by the specified date was expressed as follows:

'WILL BE TEMPORARILY SUSPENDED'

'Basic data such as the Republic of Turkey Identity Card, selfie verification, occupation information, and address information are requested during the identity verification process. For address verification, a barcoded residence certificate, which can be easily obtained via e-Devlet, is sufficient. Since February 25, users logging into the Binance TR platform have been directed to the updated verification page.'

For users who do not complete their identity verification processes on time, open positions will be closed, and all functions on their accounts, including deposit and withdrawal transactions, will be temporarily suspended. Binance TR emphasized the importance of paying attention to these warnings so that its users do not experience service interruptions.

News Source: 12punto