Binance Says It Lost 90% Of Customers, ‘Billions In Revenue’ Due To KYC Compliance ~ August 2, 2022

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What Happened: In a recent interview with CoinDesk, Binance compliance team Tigran Gambaryan and Matthew Price, former investigators at the U.S. Internal Revenue Service’s cybercrime unit, said that the exchange’s tighter KYC policies had come at a cost to the business.

“We have lost 90% of customers after implementing KYC, losing billions in revenue,” said Gambaryan.

See Also: Dutch Central Bank Fines Binance $3.4 Million: What You Need To Know

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