Binance Tasks Prime Brokers With Checks to Root Out US Investors
- Prime brokers must ask users about address, staff location
- Binance last year pleaded guilty to US compliance failures
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Binance has asked prime brokers to run more stringent checks to keep US investors off the crypto exchange in the fallout from last year’s plea deal with the nation’s authorities, people with knowledge of the matter said.
Since roughly the period around November’s guilty pleas, the world’s largest crypto trading venue has told prime brokers such as FalconX and Hidden Road — which cater to institutional traders — to demand more information from their clients, the people said, asking not to be identified as the matter is private.