Binance, one of the world’s largest cryptocurrency exchanges, does not currently have KYC (know your customer) guidelines in place. This has led to some users expressing concern about the safety of their funds, as well as the possibility of the exchange being used for money laundering.
Binance has stated that they are not required to implement KYC guidelines, as they are not a regulated financial institution. The exchange has also said that they have implemented multiple layers of security to protect user funds, and that they have never been hacked.
While Binance may not be required to implement KYC guidelines, many users feel more comfortable using exchanges that do have these measures in place. KYC guidelines help to prevent fraud and money laundering, and also help to ensure that users are who they say they are.
At this time, it is up to each individual user to decide whether or not to use Binance. Those who are concerned about the lack of KYC may want to consider using another exchange.