The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

On Tuesday, Binance announced that it would reduce the withdrawal limit for basic authentication accounts from 2 bitcoins (BTC) per day to 0.06, a reduction of 97%. According to the announcement, the adjustment will take effect immediately for new users and will be gradually adjusted for old users from August 4.

According to Binance's announcement, from now on, the withdrawal limit for accounts that have only passed basic authentication will be significantly reduced, and the daily withdrawal limit will be adjusted to 0.06 BTC (about US$2,200).

Binance accounts have three levels of personal authentication: basic, intermediate and advanced. Basic authentication accounts only need to fill in basic information such as name and email to obtain the original daily withdrawal limit of 2 BTC (about US$75,000).

In contrast, the KYC requirements for mid-level and advanced accounts are more stringent, requiring the submission of state-issued identity documents such as ID cards, passports or driver's licenses. The benefit is that the daily withdrawal limit will be upgraded to 100 BTC (about 3.7 million US dollars), and the authority to participate in LaunchPad, C2C transactions or OTC functions will be obtained.

This adjustment is only for basic authentication accounts, mainly to reduce potential illegal activities through identity authentication requirements. The policy will take effect immediately for newly registered users and will be applied to old users in stages from August 4 to 23.

 Actively welcome supervision 

Binance has recently made adjustments to its internal policies one after another. Last week, it set the leverage limit for new users to a maximum of 20 times, and it is also expected to gradually apply to old users.

These decisions are not surprising. In the middle of this year, Binance was successively targeted by regulators in Japan, Canada, the United Kingdom and other countries for suspected illegal operations. Now it has not only been forced to suspend the equity token product launched in April, but also suspended the withdrawal service for the pound and the euro.

In this regard, Binance CEO Zhao Changpeng also said on Twitter this morning that the company is currently taking active countermeasures to further comply with local regulations in various countries in order to provide the best service to customers. Zhao Changpeng said: "We have begun to follow the existing applicable regulatory framework to improve the licensing and approval procedures, including Asia Pacific, Europe, the Middle East, Africa and Latin America. As more regulatory frameworks for cryptocurrencies emerge, we will also actively cooperate with regulators."