“we must identify and verify customers using our Sites or Services in order to comply with anti-money laundering and anti-terrorism laws. This may include collection and storage of your photo identification.”
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
Customer identity verification and potential storage of government-issued photo identification is a legal obligation, not a discretionary practice, making it non-negotiable for users of the Sites or Services.
The updated policy discloses that Binance.US collects Web3 wallet information including wallet addresses, token balances, transaction data, device identifiers, and timestamps. The company may now disclose pseudonymous wallet identity information (wallet ID) to third parties with read-only access to associated wallet balances and transaction history. Additionally, the policy states that data may be stored and processed both within and outside the United States, rather than exclusively in the US as previously stated. Users should review the updated policy to understand what wallet data is collected and how it may be shared.
View change record →The updated policy explicitly authorizes Binance.US to disclose customer 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. The policy also clarifies that email addresses and other identifiers collected by Binance.US may be used for targeted advertising on other websites and social media platforms. You can opt out of this targeted advertising use by emailing privacy@binance.us or submitting a request through the 'Your Privacy Rights' webform.
View change record →Users of Binance.US's Sites or Services are subject to mandatory identity verification, which may result in the collection and storage of their photo identification.
How other platforms handle this
comply with applicable laws, lawful requests, and legal process, such as to respond to subpoenas, investigations or requests from government authorities...
We use data to investigate or address claims or disputes relating to use of Uber's services; to satisfy requirements under and/or for purposes of compliance with, applicable laws, regulations...
We process your data for necessary purposes as described in the main Policy, and for secondary purposes. We use both human and automated means to process your data.
"we must identify and verify customers using our Sites or Services in order to comply with anti-money laundering and anti-terrorism laws. This may include collection and storage of your photo identification.Excerpt from Binance.US's Privacy Policy
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Customer identity verification and potential storage of government-issued photo identification is a legal obligation, not a discretionary practice, making it non-negotiable for users of the Sites or Services.
Users of Binance.US's Sites or Services are subject to mandatory identity verification, which may result in the collection and storage of their photo identification.
ConductAtlas has identified this type of provision across 272 platforms. See the full comparison.
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