Binance Restricted Countries

What Countries Does Binance Restrict?

Binance, the largest cryptocurrency exchange by trading volume and user base (235 million), faces regulatory restrictions in several countries, impacting its services.

• United States: Binance operates a seperate exchange in the United States called Binance.US to comply with specific U.S. regulatory requirements.
• United Kingdom: The Financial Conduct Authority (FCA) has prohibited Binance from conducting regulated activities, limiting its services in the UK.
• Canada: Binance announced a complete exit from Canada in the middle of 2023, citing regulatory issues around stablecoins making the business not tenable in the region.
• Singapore: The Monetary Authority of Singapore (MAS) has restricted Binance’s services, cutting off access to local users.
• Other Countries: Binance also faces restrictions in Canada, the Netherlands, Cuba, North Korea, Iran, Syria, Crimea, and other non-government-controlled regions of Ukraine.

For a full and updated list, users should refer to Binance’s official guidelines on prohibited countries.

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What Countries Does Binance Support?

Binance is active in over 100 countries, offering varying cryptocurrency services that align with local regulations. Here’s a quick rundown of where Binance is available:

• Africa: Binance is up and running in Nigeria, Kenya, Egypt, Morocco, Ghana, Uganda, South Africa and more, offering full access to its trading and crypto management tools.
• Asia & Pacific: Binance serves countries like China, Australia, India, Thailand, Pakistan, Malaysia, Indonesia, Japan, Kazakhstan, New Zealand, Pakistan, Philippines, Taiwan, and Vietnam. Each market has services designed to follow local laws.
• Europe: Binance is available in major countries like France, Italy, Spain, Switzerland, Turkey, and more. It fully complies with European regulations to keep trading secure.
• Middle East: You’ll find Binance in countries like Egypt, Israel, Saudi Arabia, and the UAE, with secure, regulated trading options.
• The Americas: Binance is supported in Argentina, Brazil, Canada, Chile, Colombia, Mexico, and Peru, with services tailored to meet each country’s regulations.

Binance keeps expanding but always follows local rules. If you're unsure about your country, it’s worth checking Binance's official region checker for info.

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Can I Use Binance in the US?

No, the main Binance platform isn't available in the U.S. due to regulatory barriers. Instead, U.S. users can access Binance.US, a separate platform launched in 2019 to meet local regulations. Binance.US offers a solid range of crypto trading options designed specifically for American users.

That said, Binance.US has hit a few roadblocks, including a temporary pause on U.S. dollar deposits and withdrawals after a court-ordered asset freeze linked to actions by the SEC. Users can still withdraw, but they need to convert dollars into stablecoins or other cryptocurrencies.

The SEC has also charged Binance and its U.S. arm, alleging inflated trading volumes and mishandling of customer funds. Despite this, Binance.US continues to operate under regulatory scrutiny.

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Is Binance Licensed?

Yes, Binance holds multiple specific licenses across various regions. Here are some key examples:

• France: Binance France SAS is registered as a Digital Asset Service Provider (DASP) by the Autorité des Marchés Financiers (AMF), allowing it to offer custody and trading services (Registration Number: E2022-037).
• Italy: Binance Italy S.R.L. is registered as a DASP by the Organismo Agenti e Mediatori (OAM), enabling crypto exchange and custody services (Registration Number: PSV5).
• Spain: Binance Spain, S.L. is registered as a Virtual Asset Services Provider with the Bank of Spain (Registration Number: D661).
• Kazakhstan: BN KZ Technologies Limited holds licenses from the Astana Financial Services Authority (AFSA) for Digital Asset Trading Facility Operator and Custody Services.
• Bahrain: Binance Bahrain BSC(c) is licensed as a Crypto-Asset Service Provider (CASP) by the Central Bank of Bahrain.
• Japan: Binance Japan Inc. is licensed as a Crypto Asset Exchange Service Provider by the Japan Financial Services Agency (JFSA) (Registration Number: Kanto Local Finance Bureau 00031).

For a full and updated list of Binance's licenses and registrations, readers can visit their Licenses and Registrations page on Binance's official website.

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Does Binance Require KYC?

Yes, Binance requires all users to go through a mandatory Know Your Customer (KYC) process. It’s a key part of meeting global regulations like anti-money laundering (AML) and counter-terrorism financing (CTF) rules. Here's the breakdown:

• Personal Information: Users must provide their full name, date of birth, and residential address.
• Government-Issued ID: A valid passport, driver’s license, or another official ID must be uploaded for verification.
• Facial Recognition: Users need to complete a facial verification by submitting a selfie, which matches their provided identification documents.
• Additional Proof: In some cases, Binance may ask for extra documentation like proof of address to complete the verification.

For corporate entities with U.S. connections, Binance collects additional information to ensure compliance with U.S. regulations. The KYC process is key to staying secure and meeting international legal requirements.

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Bottom Line

Binance operates across more than 100 countries but faces restrictions in places like the U.S., UK, and Japan due to regulatory hurdles. U.S. users can access Binance.US, though it has encountered legal issues. 

KYC is mandatory for all users to comply with global anti-money laundering laws. Binance tailors its services to local regulations, so check their official guidelines to see if your region is supported and what licenses apply.