{"id":52946,"date":"2023-06-23T10:37:21","date_gmt":"2023-06-23T14:37:21","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=52946"},"modified":"2023-06-23T10:37:25","modified_gmt":"2023-06-23T14:37:25","slug":"binance-blocks-sanctioned-users-with-advanced-tech","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/binance-blocks-sanctioned-users-with-advanced-tech\/","title":{"rendered":"Binance Blocks Sanctioned Users with Advanced Tech"},"content":{"rendered":"\n

The crypto exchange claims it has invested millions in a compliance program and uses IP blocking, VPN detection, and other tools to prevent access from blocked jurisdictions.<\/p>\n\n\n\n

\"Binance<\/figure>\n\n\n\n

Binance, one of the largest crypto exchanges in the world, has published a post\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> by its Global Head of Sanctions, Chagri Poyraz, detailing how it prevents users from sanctioned or blocked countries from accessing its platform. <\/p>\n\n\n\n

The post also comes amid increased regulatory scrutiny and pressure on Binance<\/a> from various authorities around the world.<\/p>\n\n\n\n

According to Poyraz, Binance has invested tens of millions of dollars in a compliance program and grown its in-house compliance-supporting headcount to 750 experts.<\/strong> <\/p>\n\n\n\n

The company's Sanctions Compliance unit uses several layers of controls to prevent users from accessing the platform, including IP blocking <\/use><\/svg><\/span><\/a>and VPN detection.<\/p>\n\n\n\n

\n

“We are keenly aware that people use VPN services to conceal their IP addresses for various reasons. While some may turn a blind eye to that sort of activity, we have put in place cutting-edge technologies to address these issues,” <\/p>\nC. Poyaz<\/cite><\/blockquote>\n\n\n\n

Binance employs several other tools and indirect indicators, IP blocking, and VPN detection to determine whether a user has misrepresented their location. <\/p>\n\n\n\n

If the system suspects that a user is physically in a sanctioned or blocked country, it will trigger a request for information to inquire about the reasons and circumstances surrounding the user being there.<\/p>\n\n\n\n

An Ongoing Battle Against Circumvention Attempts<\/h4>\n\n\n\n

Furthermore, Poyraz admitted that identifying and offboarding individuals who attempt to circumvent the platform's restrictions is an ongoing battle. <\/p>\n\n\n\n

“People constantly come up with ways to try and get around the most sophisticated restrictions and controls, including by using fake IDs and various ways to obfuscate their location,”<\/strong><\/em> he said. “<\/em>We are committed to identifying and immediately offboarding such individuals.”<\/em><\/strong><\/p>\n\n\n\n

Poyraz also claimed that since the company's pivot, Binance had adopted a culture of compliance. <\/p>\n\n\n\n

\n

“We are confident our program today parallels what you will find at most traditional financial institutions, many of whom have been in business for over a century, compared to Binance, which just launched in 2017,” <\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

The crypto exchange claims it has invested millions in a compliance program and uses IP blocking, VPN detection, and other tools to prevent access from blocked jurisdictions. Binance, one of the largest crypto exchanges in the world, has published a post by its Global Head of Sanctions, Chagri Poyraz, detailing how it prevents users from […]<\/p>\n","protected":false},"author":44,"featured_media":52949,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[326,15000,132,870,15001],"class_list":["post-52946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-chagri-poyraz","tag-crypto","tag-technology","tag-vpn"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/Poyraz-Binance.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/52946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=52946"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/52946\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/52949"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=52946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=52946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=52946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}