According to a Jan. 19 announcement, cryptocurrency exchange Binance has stegnut its rules for nonfungible token listings. Starting Feb. 2, 2023, Binance will delist all NFTs listed before Oct. 2, 2022 and with an average daily trading volume lower than $1,000 between Nov. 1, 2022 and Jan. 31, 2023. In addition, after Jan. 21, 2023, NFT artists can only mint up to five digital collectibles per day.
Binance NFT requires sellers to complete Know Your Customer (KYC) verification and have at least two followers before listing on its platform. In addition to the revised rules, Binance said it would forthwith “periodically review” NFT listings that do not “meet its standards” and recommend them for delisting.
„Korisnici mogu prijaviti NFT-ove ili kolekcije koje mogu biti u suprotnosti sa Binance NFT pravilima kovanja i uslovima usluge. Naš tim za dužnu analizu će aktivno pregledati prijave o prijevari ili kršenju pravila i poduzeti odgovarajuće mjere.”
All digital collectibles not meeting the two requirements will be automatically delisted by Feb. 02, 2023. The delisted assets will still appear in users’ wallets afterward. Binance has doći pod intenzivnu kontrolu by regulators since last year over allegations of lax KYC measures and its role in processing illicit funds, which the exchange has denied.
Amid the Bitzlato money laundering allegations that surfaced on Jan. 18, the United States Financial Crimes Enforcement Network claimed that Binance was among the “top three receiving counterparties” to Bitzlato. As previously reported, Binance was among exchanges that continued to serve non-sanctioned Russians following new sanctions from the European Union.
Source: https://cointelegraph.com/news/binance-tightens-rules-on-nft-listings