With the rapid growth of the cryptocurrency market worldwide, the need to regulate this market has become more urgent, especially regarding anti-money laundering and counter-terrorism financing. Among the most prominent regulatory measures imposed on cryptocurrency trading platforms is what is known as the 'Know Your Customer' principle, abbreviated as (KYC).

In this article, we explain what (KYC) is, why it has become mandatory for trading platforms in the Middle East, and how users can easily complete verification procedures through the (Binance) platform, along with highlighting its role in protecting users and enhancing market transparency.

What is (KYC)?

The term (KYC) stands for 'Know Your Customer', and refers to a verification process conducted by financial institutions – including cryptocurrency trading platforms – to identify their customers. This process includes collecting information such as:

· Full name

· Date of birth

· Address of residence

· A copy of the passport or ID card

· A personal photo for verification

(KYC) is considered a fundamental part of anti-money laundering (AML) and counter-terrorism financing (CFT) measures, and aims to prevent the use of platforms for illegal purposes.

Why do trading platforms in the Middle East enforce (KYC)?

With the expansion of the digital market in the Middle East, regulatory bodies have begun to impose strict policies requiring trading platforms to implement (KYC) procedures for users. This shift is due to several key reasons:

1. Preventing illicit financial activities
Such as money laundering, terrorism financing, or financial fraud.

2. Enhancing trust and transparency
The (KYC) process helps build a safer trading environment, especially for new users and institutional investors.

3. Compliance with international regulations
The commitment of platforms in the Middle East to global standards such as (FATF) enhances their legal and economic standing.

A detailed analysis of the role of (KYC) in the cryptocurrency environment can be found in the following article:

https://notabene.id/crypto-travel-rule-101/kyc-crypto

Steps to complete (KYC) on the (Binance) platform in the Middle East and North Africa

The (Binance) platform is one of the leading platforms in its commitment to global compliance standards. It has developed a quick and easy verification system that allows users in the Middle East and North Africa to complete (KYC) steps within minutes.

Here are the steps:

1. Registering on the platform
You can start by creating a new account via the following link:
https://www.binance.com/en/kyc-center

2. Access the (KYC Center)
From the dashboard, select 'Verification', then go to (KYC Center).

3. Entering personal data
Enter your full name, date of birth, and place of residence accurately.

4. Submitting official documents
Upload a photo of your passport or national ID card, along with a selfie.

5. Additional verification (if needed)
You may be asked to undergo additional verification using a short video or supporting document such as a utility bill or bank statement.

6. Waiting for review
Reviews are usually completed within hours, and in rare cases, it may take a day or more.

What are the benefits of (KYC) for the user?

· Protecting the account from theft or unauthorized use.

· Enabling access to more services on the platform such as withdrawals, deposits, and fiat trading.

· Enhancing regulatory confidence in the local digital market.

Does (KYC) affect my privacy?

The (Binance) platform adheres to strict privacy policies and secure data storage, and your information is not shared with third parties without legal reason or prior authorization.

Conclusion

By 2025, applying (KYC) will no longer be an option, but a legal and security necessity to ensure the safety of the digital market in the Middle East. Completing verification procedures not only protects the financial system from manipulation but also provides an additional layer of protection for the users themselves. Therefore, taking a simple step like completing (KYC) can be the difference between a safe and effective trading experience and a risky one.

#kyc #Binance #العملات_البديلة #MENA_crypto

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As always, it is important to do your own research and consider your risk tolerance before making any investment decisions. Stay informed by checking the latest prices and trends in the market, and follow me on social media, and consider taking advantage of the current market conditions to enhance your cryptocurrency portfolio.

Written by: Dr. Mohammed Al-Hamiri @AlhemairyM