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MarkRoberts
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Joined: Wed Jan 13, 2021 10:19 am

Binance to Cut Down on Illicit Activities with New Withdrawal Limit

Thu Aug 05, 2021 1:49 pm

Binance’s new withdrawal limit for unverified users may result in two potential outcomes. One will be a reduction in the number of withdrawals and, consequently, a reduction in the cases of illicit activities. 0.06 BTC converts to around $2,440 compared to the previous 6 BTC, which allowed daily withdrawals of close to $245,000 as per the current rate.

Alternatively, the new price will force Binance users to complete the KYC verification process. The result will similarly be a reduction in the number of illicit transactions. Users who have completed the KYC verification process can withdraw up to 100 BTC, a mount that is very attractive compared to 0.06 BTC.


https://mycryptoparadise.com/binance-slashes-withdrawal-limit-for-unverified-users/

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