Binance partners with Japanese KYC provider despite privacy concerns
Binance has partnered with the KYC provider known as Liquid to reenter the Japanese market. Liquid offers a facial authentication tool for KYC purposes. It uses an AI-based image processing capability. It enables identity verifications that comply with the local Japanese KYC regulations. Biometric data gathering plays a key role in KYC procedures. However, it has been under the radar of the main regulators due to privacy concerns . Some projects, like Worldcoin, have been strongly criticized by different regulators worldwide regarding gathering biometric data. You might also like: Worldcoin data collection investigated by French privacy regulator Takeshi Chino, general manager for Binance Japan, reassures that Binance took all the necessary safety measures. “Binance’s robust KYC framework plays a critical role in protecting the platform, users and community, and the entire ecosystem from potential threats.” Takeshi Chino, general manager for Binance ...