Binance Australia Adopts Measures to Protect Vulnerable Investors

Binance Australia published a blog for the June quarter on its Environmental, Social, and Governance report. However, the exchange’s commitment to safeguarding vulnerable investors is one of the main lessons to be learned from the blog. According to the blog, adopting crypto and user protection were two critical topics for study and development. Binance Australia, the world’s first digital currency exchange to commence reporting on Environmental, Social & Governance (ESG) metrics under a universal framework developed by the World Economic Forum (WEF), provides an update on the June quarter of progress on ESG initiatives. — Binance Australia 🇦🇺 (@Binance_AUS) August 30, 2022 User-Focused Experience According to the site, the exchange is creating a rigid, user-focused onboarding experience. The action directs at demographics more likely to be taken advantage of in this new development. CEO of Binance Australia, Leigh Travers, stated that the company aggressively works to assist vulnerable investors. The procedures will start as soon as new users enter the onboarding process. As part of the user onboarding process, Binance Australia will begin implementing more strict identity requirements on September 1. The company will no longer enable consumers to submit their driver’s license later and will instead need a photo and number of the right at the time of registration. It will allow Binance to recognize a susceptible user, quick...