Binance.US requires users to provide government-issued identification and Social Security numbers as part of the account opening and identity verification process, consistent with federal KYC and AML requirements applicable to money services businesses.
This analysis describes what Binance.US's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
The collection of Social Security numbers and government-issued IDs represents a high-risk data category because these identifiers, if exposed in a breach, can enable identity theft and fraud. Users should understand that this data is mandatory for account creation due to federal regulatory requirements and is retained by the platform.
The updated policy now explicitly authorizes collection of Web3 wallet information including wallet addresses, token balances, transaction data, device identifiers, and related metadata. Under the revised terms, Binance.US may disclose pseudonymous wallet information (including read-only access to associated balances and transaction history) to third parties. Additionally, the policy no longer restricts data storage to the United States; data may now be stored and processed both within and outside the country. The updated language does not specify an opt-out mechanism for Web3 wallet data collection.
View change record →The updated privacy policy now discloses that Binance.US collects information from interactions with AI chatbots, including prompts, market research, and uploaded information. The policy states this data may be shared with OpenAI, which according to the revised language may receive information about your account, portfolio, and communication contents along with associated metadata. The updated terms also broaden the stated use of personal information to include generating interactive responses through AI chatbots that provide market research and portfolio-specific analysis, as well as collecting inferences about your service use. Your continued use of the platform constitutes acceptance of these updated data collection and sharing practices.
View change record →The updated policy explicitly authorizes Binance.US to disclose user information to law enforcement, government agencies, regulators, financial institutions, and industry partners to detect and prevent fraud, money laundering, terrorist financing, and other financial crimes. This establishes a new disclosure authority that was not previously explicitly stated. Additionally, the revised language discloses that email addresses and other identifiers collected by Binance.US may be used for tailored advertising on other websites and social media platforms. The policy now provides a 'Your Privacy Rights' webform in addition to email contact as a mechanism for submitting privacy rights requests and appeals. You can submit privacy rights requests through privacy@binance.us or by using the company's 'Your Privacy Rights' webform.
View change record →Newly granular disclosure of highly sensitive personal identifiers (government ID, SSN) that were previously bundled under KYC collection.
View full change record →Users must provide their Social Security number and government-issued ID to use Binance.US. The policy states this information is collected and retained by BAM and may be shared with service providers and disclosed to law enforcement or regulatory authorities when required.
How other platforms handle this
To stop us collecting your location information, you can update your device settings, stop using the Service, or uninstall our mobile apps.
If you choose to reveal any personal information about yourself to other users, you do so at your own risk. We strongly encourage you to use caution in disclosing any personal information online.
When you are asked to provide information, you may decline to do so; but if you choose not to provide information that is necessary to provide some of our Services, you may not be able to use those Services.
"This Privacy Policy describes how Binance.US and its related companies and affiliates ('BAM') collect, use, and disclose information, and your choices regarding this information. BAM collects identifiers including name, email, phone, government ID, and financial information including Social Security numbers and bank account numbers.Excerpt from Binance.US's Privacy Policy
REGULATORY LANDSCAPE: Collection of Social Security numbers and government-issued identification is required under the Bank Secrecy Act and FinCEN's Customer Identification Program rules (31 C.F.R.
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The collection of Social Security numbers and government-issued IDs represents a high-risk data category because these identifiers, if exposed in a breach, can enable identity theft and fraud. Users should understand that this data is mandatory for account creation due to federal regulatory requirements and is retained by the platform.
Users must provide their Social Security number and government-issued ID to use Binance.US. The policy states this information is collected and retained by BAM and may be shared with service providers and disclosed to law enforcement or regulatory authorities when required.
ConductAtlas has identified this type of provision across 290 platforms. See the full comparison.
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