Binance has tightened its rules for nonfungible token listings. Starting Feb. 2, 2023, Binance will delist all NFTs listed before Oct. 2, 2022 and with an average daily trading volume lower than $1,000 between Nov. 1, 2022 and Jan. 31, 2023. In addition, after Jan. 21, 2023, NFT artists can only mint up to five digital collectibles per day.
Binance NFT requires sellers to complete Know Your Customer KYC verification and have at least two followers before listing on its platform. In addition to the revised rules, Binance said it would forthwith periodically review NFT listings that do not “meet its standards” and recommend them for delisting.
All digital collectibles not meeting the two requirements will be automatically delisted by Feb. 02, 2023. The delisted assets will still appear in users’ wallets afterward. Binance has come under intense scrutiny by regulators since last year over allegations of lax KYC measures and its role in processing illicit funds, which the exchange has denied.
