Binance has partnered with a number of companies to comply with sanctions regulations

Binance intends to strengthen control over user identification (KYC) and minimize risks to its business. The exchange has entered into agreements with analytics company Kharon and cloud verification provider Neterium to help detect illegal activity on the platform.

Binance Global Head of Sanctions Chagri Poiraz said that Kharon and Neterium will use the best data and innovative technologies to reduce both material and reputational risks for the company.

Last November, it became known that Binance lost only 3% of its customers after the introduction of the KYC procedure. However, this decision attracted more institutional investors to the platform.

Yesterday, it was reported that Binance may ban Russians from participating in the Terra 2.0 airdrop. The updated ecosystem after the Terra 1.0 crash will be restarted today, May 28.

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