Binance and multiple citizenship

[Lucius]

~snip~
Why did I say that doesn't make sense? You know the rules and regulations in China about cryptocurrency. Binance staffs were accused of providing fake KYC for their clients from China and it was a direct involvement from Binance itself. I had a long investigation to write a report in Bengali about how Binance is playing devil on the market. I found this. When they can illegally allow people to use their platform just to make profit, why wouldn't they allow you to trade when you will have all legal documents?

I remember that, but it didn't surprise me at all when I read that the Chinese still use that CEX with the help of official support that helps them bypass the rules. If I'm not mistaken, someone then mentioned about 200 000 users from China who continue to trade in this way. When it comes to profit (and it always is), then such companies very often turn a blind eye, and not only pretend not to see, but also help potential clients to get fake documents.


Do you know what's worse than giving your KYC to a CEX? To do it two or three times with different documents which are then used for who knows what, and apparently they are sold to those from "forbidden countries".

[yhiaali3]

I don't think it's possible, it's like using a VPN, you can use VPN to access your blocked account in Binance but you can't activate the account with KYC.

If the country of residence is not the country of nationality, then I think this is allowed, but you must specify that when you complete the KYC steps, meaning if you reside in the banned country A, but you hold the nationality of the non-prohibited country B, in this case you can use your original documents for the country of nationality and complete KYC, but if the case is the opposite, it is not allowed.

In short, I think that the ban applies to the country of nationality and not to the country of residence.

[rat03gopoh]

In short, I think that the ban applies to the country of nationality and not to the country of residence.

A citizen can't be subject to 2 laws simultaneously. Furthermore, when a user is identified as having criminal activity, the first jurisdiction that has the right to impose legal sanctions is the country where he resides at that time.

Let's say you currently live in country A, and you launder money on Binance using the identity of resident B. Binance can't ask the authorities of country B to act against you in country A, otherwise Binance doesn't have good AML cooperation with the authorities of country A due to restrictions. This is a difficult situation to resolve.

[eaLiTy]

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I am registered on Binance and KYC verified with the documents of country A, i.e. I used the passport of mine that I got from country A, whose citizen I am and where I was born. Now, let's assume that Binance got banned in my country (A). But I want to still use Binance exchange.

If you are trading in Binance then there is nothing to worry even if it comes under a restricted country, they will be willing to help you overcome the restrictions as there are reports that claim that Binance helped people in China overcome the restrictions imposed by the government and allegedly have a monthly volume of $90 Billion from Chinese investors.

Like others mentioned, in your hypothetical situation, you can always submit your new documents so that you will be able to overcome the restrictions in any exchange.

Here are some articles for reference. 

Binance did monthly transactions worth $90 billion in banned China market, Wall Street Journal reports

Crypto is banned in China, but Binance employees and support volunteers tell people how to bypass the ban

[Synchronice]

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I am registered on Binance and KYC verified with the documents of country A, i.e. I used the passport of mine that I got from country A, whose citizen I am and where I was born. Now, let's assume that Binance got banned in my country (A). But I want to still use Binance exchange.

If you are trading in Binance then there is nothing to worry even if it comes under a restricted country, they will be willing to help you overcome the restrictions as there are reports that claim that Binance helped people in China overcome the restrictions imposed by the government and allegedly have a monthly volume of $90 Billion from Chinese investors.

Like others mentioned, in your hypothetical situation, you can always submit your new documents so that you will be able to overcome the restrictions in any exchange.

Here are some articles for reference. 

Binance did monthly transactions worth $90 billion in banned China market, Wall Street Journal reports

Crypto is banned in China, but Binance employees and support volunteers tell people how to bypass the ban

I think this case is pretty normal and can happen to anyone who has multiple citizenship because there is a chaos in crypto are all around the world, it seems very logical and appreciable from Binance to help people wo face this problem. But China is definitely a different case and sometimes I think about that, is it actually good what Binance does or not? I know they do it in order to increase their profit but at the same time we all know that its our right to buy, sell or trade cryptocurrencies and similar restrictions breaks our freedom of choice. So, this is the case where I think Binance does right. It's pretty amazing how they manage to deal with every problem all around the world, you have to find local people who are willing to help you to do that, that's pretty insane.

[icalical]

First question, why you would want to open another account, why not just used your current account, I can't find any terms that said your binance account will be removed/locked/banned if your country bans Binance. Instead you can update your KYC information for the reason of nationality change, https://www.binance.com/en/support/faq/how-to-update-my-identity-verification-information-4646688d026343a2a076b327407c0b6b.

Next, the second possibility, let's say that your previous account that tied to the banned country is removed, then I suppose you will not have any problem registering a new account, since your data is not registered on Binance anymore.

[zakservers]

I think there wont be any issues, if you change your profile and KYC on the current account, just contact with Binance to update that, and I think Binance wont have any issues updating your details too, but its not just about the passport, you have to reside in a country where Binance is allowed too, like if you tell them that you have moved to that country, then you would also need address verification document too, no need for a new account as it can make you look suspicious, simply contact with support with relative documents to update your profile and KYC.

[dansus021]

I am also curious about what is gonna happen in a case like this, but in my opinion that you can still be registered with your other passport from B or C if you have dual citizenship.

and you might access the site using the VPN but worth the mention that some VPN can be detected by binance and your account can get locked

[Synchronice]

I am also curious about what is gonna happen in a case like this, but in my opinion that you can still be registered with your other passport from B or C if you have dual citizenship.

and you might access the site using the VPN but worth the mention that some VPN can be detected by binance and your account can get locked

If you are curious to know, see this post: https://bitcointalk.org/index.php?topic=5464659.msg62760696#msg62760696

Binance's customer support representative told me that it's not recommended to use VPN and will result in account compromise. Also, said that it's not their wish but they have no other choice. If anything, I would use VPN with dedicated IP but you have to be very careful with it, if you login from Cyprus and minutes later you login from Hamburg, then you are leaked and will probably get banned.

[dansus021]

If you are curious to know, see this post: https://bitcointalk.org/index.php?topic=5464659.msg62760696#msg62760696

Binance's customer support representative told me that it's not recommended to use VPN and will result in account compromise. Also, said that it's not their wish but they have no other choice. If anything, I would use VPN with dedicated IP but you have to be very careful with it, if you login from Cyprus and minutes later you login from Hamburg, then you are leaked and will probably get banned.

Thanks for the info

I actually already got banned a couple of months ago because of using a VPN  . My VPN has AutoConnect features so I never checked which country I connected to, and Long story short my account login to Germany and I am from Indonesia and Binance is blocked by the Ministry of Communication and Information Technology of Indonesia so boom my account got banned for 7 days and they told me to give proof of address to recover the account.

I think Connected VPn is okay if you are using dedicated IP like you said because most of the time VPN only has static IP

[KingsDen]

I think there wont be any issues, if you change your profile and KYC on the current account, just contact with Binance to update that, and I think Binance wont have any issues updating your details too, but its not just about the passport, you have to reside in a country where Binance is allowed too, like if you tell them that you have moved to that country, then you would also need address verification document too, no need for a new account as it can make you look suspicious, simply contact with support with relative documents to update your profile and KYC.

According to Op, let's say country A where he resides and whose IP and documents he used for KYC no longer welcome Binance in their country. This should mean that if Binance geo blocked the country, there is nothing that can be done but if the country is accessible at the risk of the customer and the victim uses VPN, the Binance support might not have problem merging the account unless the offence of multiple accounting which is also another problem.

[rat03gopoh]

Update: Thanks to the news of Binance's airdrop^[1] to Moroccan users with the requirement to complete verification, so apart from them applying for verification requests in addition to Proof of Identity (PoI), they also have Proof of Address verification (PoA)^[2]. So all users can be asked to complete it at any time to ensure there is no misuse, for example by participating in their events such as charity programs only for a certain country.

1. https://www.binance.com/en/blog/charity/binance-to-airdrop-up-to-$3-million-in-bnb-to-users-in-the-morocco-earthquake-region-6962526806416134014
2. https://www.binance.com/en/support/faq/how-to-verify-my-residential-address-on-binance-applicable-to-all-users-10315cfd150e438b82d306f6e657e996

[Woodie]

Am pretty sure that when Binance services aren't offered in one country, for example country A as OP put it, usually these guys will just geofence all IPs from country A to deny anybody from there from using their services.

And if you so happen to have dual citizenship from country Bor C and register for a new account from a whitelisted territory, then there is no reason to ban you unless you use a bank card connected to the old account or something...

Otherwise new account, new documents, and using the same name gets you a new identity as we have lots of people with the same names!