2021-08-06 04:00
Fellow Binancians,
To ensure a safe and fair trading environment for all users and remain compliant with the latest industry requirements, Binance is updating its API services to limit new API key creation by accounts that have only completed basic account verification. This update is effective starting 2021-08-09 03:00 (UTC).
For accounts that have not completed intermediate verification, any existing API keys will be changed to “read only” after 2021-08-23 00:00 AM (UTC). Trading functions via relevant API keys will be deactivated. Users can complete
intermediate verificationto
reset API access and resume trading functions. Please note, this does not affect users who do not use Binance API services, and users can still access Binance services on the Web and App.
Please complete identity verification for full access to Binance API services.
Binance continually reviews its products and services to ensure that we are prioritizing user protection and creating a sustainable crypto ecosystem for everyone.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.
Thanks for your support!
Binance Team
2021-08-06
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Note: This announcement was updated on 2021-08-16 and 2021-08-06..
Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.
As a seasoned expert in the field of cryptocurrency and blockchain technology, my extensive experience allows me to analyze and interpret the intricacies of announcements like the one provided by Binance on August 6, 2021. Let me guide you through the concepts and implications embedded in this communication.
The announcement revolves around Binance, one of the prominent cryptocurrency exchanges, implementing updates to its API services. The purpose behind these updates is twofold: first, to ensure a safe and fair trading environment for all users, and second, to comply with the latest industry requirements. Now, let's delve into the key concepts:
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API Services:
- API, or Application Programming Interface, is a set of rules and protocols that allows one software application to interact with another. In the context of Binance, API services enable users to integrate and automate their trading activities programmatically.
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Account Verification Levels:
- Binance has different levels of account verification: basic, intermediate, and full identity verification. The announcement highlights a change affecting users who have only completed basic account verification.
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API Key Creation Limitation:
- Starting from August 9, 2021, accounts that have only completed basic account verification will be limited in creating new API keys. This restriction aims to enhance the security of the trading environment.
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API Key Status Change for Unverified Accounts:
- For accounts without intermediate verification, existing API keys will be changed to "read-only" after August 23, 2021. This means that trading functions via relevant API keys will be deactivated.
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Resetting API Access through Intermediate Verification:
- Users with affected accounts can regain full API access and resume trading functions by completing intermediate verification.
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User Protections and Compliance:
- Binance emphasizes its commitment to prioritizing user protection and ensuring compliance with industry standards. The cryptocurrency exchange constantly reviews its products and services to create a sustainable crypto ecosystem.
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Risk Warning:
- The announcement includes a risk warning, underscoring the high market risk associated with cryptocurrency trading. Users are advised to trade cautiously.
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Binance Team Communication Channels:
- The communication concludes with Binance providing links to its official communication channels, such as Telegram, Twitter, Facebook, and Instagram, enabling users to stay informed about updates.
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Disclaimer:
- Binance includes a disclaimer stating that it reserves the right to amend, change, or cancel the announcement at any time and for any reasons without prior notice. This serves as a standard disclaimer in the volatile cryptocurrency industry.
In summary, Binance's API service updates aim to enhance security, promote fair trading, and ensure compliance with industry standards, with a strong emphasis on user protection and risk awareness. Users are encouraged to stay informed and comply with the new measures outlined in the announcement to continue using Binance's services seamlessly.
