Binance Enforces Mandatory KYC For All Users, Effective Immediately – August 20

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$47,205

Bitcoin price has bounced back above the $47,000 overnight, as Coinbase announces it will be putting more crypto on its balance sheet.

Top-20 altcoins have performed tremendously over the last 24 hours, with Ethereum gaining 7%, Cardano exploding 18% and Polycoin gaining 12%

Top Stories for August 20, 2021 🔥

👉 Binance Enforces Mandatory KYC For All Users, Effective Immediately

The world’s largest cryptocurrency exchange, Binance, has announced that they will be enforcing know-your-customer (KYC) verification for all users, effective immediately.

New users will need to complete “intermediate verification” to use any Binance services, while existing users will be restricted to “withdrawal only” until they are verified.

The move has come after a regulatory crackdown on Binance and other exchanges, which has seen the exchange impose a series of other restrictions for its users.

👉 Coinbase To Add Over $500M In Crypto To Balance Sheet

American cryptocurrency exchange Coinbase will be adding over $500 million worth of cryptocurrency to its balance sheet, according to CEO Brian Armstrong.

Armstrong stated that the company has “received board approval” to add more cryptoassets to its holdings. Additionally, Coinbase will be investing 10% of all its future profits into cryptocurrency.

👉 Wells Fargo Registers Investment Fund Providing Bitcoin Exposure

US bank Wells Fargo has registered a new investment fund, which will offer wealthy clients indirect exposure to Bitcoin.

The fund, called “FS NYDIG BITCOIN FUND I”, has been registered with the United States Securities Commission, in a partnership with NYDIG and FS Investments.