Cryptocurrency exchange Binance will strengthen KYC verification controls to comply with sanctions.
The company said it has partnered with analytics platforms Kharon and Neterium for this purpose.
“Working with Kharon and Neterium allows us to use Kharon’s best-in-class data with Neterium’s innovative technology to reduce our risk,” Binance said.
The company said the collaboration will complement Binance’s existing user identification system and help it comply with regulatory requirements.
In March, Binance CEO Changpeng “CZ” Zhao, who doubted the introduction of restrictions for Russians, said that the exchange would not limit service to “ordinary people.”
However, a month later, Binance set limits on the balance of the account of 10,000 euros for Russian users.