iBNB

<ul><li>Binance requires prime brokers to conduct thorough client screenings to prevent U.S. investor participation, reflecting its commitment to regulatory compliance.</li><li>The exchange underwent significant operational changes, such as revising token listing strategies and transforming Binance Labs into an independent entity.</li><li>Former CEO Changpeng Zhao announced Giggle Academy, offering free, gamified, and adaptive education to students globally.</li></ul>Binance has tightened its client screening measures to block U.S. investors. This development, as reported by Bloomberg on Tuesday, involves Binance requesting prime brokers like FalconX and Hidden Road to enhance their vetting processes.These prime brokers are now <a href="https://www.bloomberg.com/news/articles/2024-03-19/binance-tasks-prime-brokers-with-checks-to-root-out-us-investors" rel="noopener noreferrer nofollow">required</a> to gather and verify extensive information about their clients, including the geographic locations of their offices, founders, and employees. This decision comes in the wake of Binance&#39;s guilty plea to U.S. charges last November, demonstrating the exchange&#39;s efforts to comply with regulatory standards and avoid similar issues in the future.The call for tightened screening processes follows a settlement with the U.S. Department of Justice last year, wherein Binance and its former CEO, Changpeng Zhao, admitted to violations of the Bank Secrecy Act. The company&#39;s <a href="https://cryptotale.org/binance-fights-back-against-secs-use-of-doj-settlement-in-court-battle/" rel="noopener noreferrer nofollow">deliberate noncompliance</a> with U.S. laws and regulations led to a significant penalty of $4.3 billion, as noted by Acting Assistant Attorney General Nicole M. Argentieri.<a href="https://cryptotale.org/binance-implements-rigorous-client-screening-amidst-operational-overhaul/" rel="noopener noreferrer nofollow">Read full article at CryptoTale.</a>

Binance Implements Rigorous Client Screening Amidst Operational Overhaul

CryptoTale

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