Binance Requests Income Certification from Users in Venezuela
Binance has sent a request to users in Venezuela to certify the source of their funds. The platform seeks to verify total deposits in fiat currency amounting to $17,286 made during 2026, which the user had declared as salary, arbitrage trading, savings, and personal loans. Binance contrasted this declaration with a 2025 tax return showing an annual income of 41,718 VES (approximately $56.13) and a bank statement with a final balance of 327,465.57 VES (about $440.56). The platform was unable to verify that the documented income and bank balance supported the deposited amount, requesting the user to clarify the discrepancy with additional documentation. This requirement is not exclusive to Venezuela, as Binance maintains a formal Source of Funds (SOF) and Source of Wealth (SOW) declaration process to prevent money laundering and terrorist financing. The request comes after a requirement for P2P traders in Venezuela to update their employment data, in compliance with KYC and AML regulations. Additionally, there are rumors that Binance will launch a card for the Venezuelan market, backed by Mastercard, suggesting a strategy to obtain a formal license to operate in the country.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

Financial Services Agency Requests Simplification of Stablecoin Taxation|Facilitating Payments Over 1 Million Yen

DAXA Requests Investigation into Four Unreported Overseas Cryptocurrency Exchanges

Polymarket Discusses $1 Billion Funding, Valuation of 29 Trillion Won Mentioned

Peach Limits P2P Bitcoin Sales Under New Rules

Sony Claims Digital Game Ownership Is Misleading in Court

Hacking: Belgium demands crypto addresses from illegal sites

ARCA Expands the Obligation to Issue Electronic Receipts

HYPE faces $36M team withdrawal on September 6

Bitcoin: 12 Years Later, He Recovers His Wallet and Becomes a Millionaire

Financial Services Agency Requests 13.4 Billion Yen Increase in 2027 Budget, New Office for Cryptocurrency Oversight

International Purchases in Dollars: A Guide to Using the Door-to-Door System Without Surprises

After the Midterms, Will the 'Trump Trade' Backfire?

Deribit moves 90% client assets to Coinbase, ends daily proof-of-reserves check

14 Web3 Domains Excluded from ICANN Application

U.S. Military Maintenance Backlog Exceeds $285 Billion

Lawmakers accuse RFK Jr. of misleading the Senate and call for an investigation

U.S. Treasury Evaluates Tax Review of NGOs Linked to Soros, SPLC, and CAIR

Zerion API Introduces $0.01 USDC Payment Per Call

Trump loses for the second time in attempt to move his dirty money case to federal court

Ukrenergo Begins Restructuring Eurobonds Worth $825 Million

Intense Battle in the Sejm Over Presidential Veto. Czarzasty Strongly on Cryptocurrencies and 'Mafia Activities'

Cyberattack at Lingor: Identity Documents, IBANs, and Addresses of Gold Buyers Exposed

Solana Raises Over $150,000 for Yellow-bellied Marmot Research Through Memecoin

Crypto XRP: Evernorth Moves Closer to Wall Street and Nasdaq

Roman Storm's retrial postponed to April 2027

Credit Card Expenses in Dollars: The Best Way to Pay the Bill and Avoid Extra Charges

GoCaracal Attempts C2 Recovery Using Ethereum Storage Values

How to Quickly and Profitably Exchange USDT or USDC for Hryvnia in Ukraine

SimpleSwap Marks a Year Inside Exodus Wallet, Ships Five Partner Updates WithNo Integration Changes









