Binance ended my licensed P2P business over "account sharing" with my husband. Now the EU has ended Binance.

I used to be a P2P Professional Service provider in Poland. Registered VASP, absolutely tax compliant, 4+ years on Binance, 48,000+ completed trades, 98%+ constructive suggestions, monthly volume up to 7 figures in PLN. On April 13 Binance terminated my account. The one purpose given: "violation of Phrases of Use." No clause. No rationalization. Over the subsequent 32 days I requested greater than 15 totally different help brokers to only inform me which term I violated. Every single one refused.

My husband's private account obtained terminated as properly, and his a minimum of came with a purpose: Account Sharing.

So here's our "crime." We're married. His fingerprint is on my telephone and mine is on his. When his battery died he'd log in on my telephone, when mine died I used his. We know each other's passwords, our money is collectively, we don't cover something from one another except perhaps birthday presents. That's not fraud. That's a traditional marriage. Binance's danger system apparently can't tell the distinction between criminals sharing accounts and a wife and husband sharing a telephone.

And the way rigorously was my case reviewed? At 11:31 UTC an escalations agent wrote to me, word for phrase: "we apply a diligent and cautious strategy, completely analyzing every case." My account was terminated the same day at 13:58 UTC. Two and a half hours of "thorough examination" to erase a 4-year enterprise. No one asked me for a single doc. Similar day, one agent requested me if I needed to attraction while one other informed me no attraction channel exists. They couldn't even agree on that. Funny thing: as soon as earlier than, the same local workforce restricted my account "until 2030" by mistake, and Binance International overturned it within 24 hours. So I know exactly what their native staff's accuracy appears like.

What did they actually lose? Not just volume. In 4 years as a merchant I ended a whole lot of scam makes an attempt alone orders. Elderly individuals, individuals who clearly had a scammer on the telephone with them teaching them by way of the cost, I cancelled these orders and advised them what was occurring as an alternative of taking their cash. When somebody paid after an order was already cancelled, I sent the money again, each time, even when no one would have ever recognized. I used to be precisely the sort of service provider a P2P platform is meant to want. Terminated over a shared telephone, with no attraction.

Now the karma part. Three months after they threw me out for "compliance" causes they refused to call, Binance is gone from the Play Store across the EU and its providers are shutting down for European customers, because they never managed to get a MiCA license. They demanded good, unexplained compliance from a small licensed service provider in Poland whereas failing to stay compliant on a whole continent.

I don't anticipate Binance to care. I simply need this on the document. Should you're a merchant reading this: your stats won't shield you, your feedback won't shield you, your license won't shield you. You're one algorithm flag away from being nothing to them, and there's no one to talk to when it happens.

And this wasn't simply me. Whoever runs compliance for Binance Poland: I watched what your selections did to the PLN market. Before July 1 there were moments when solely 2 retailers have been online on the complete PLN P2P market. On Bybit and Bitget, over 100. That wasn't regulation doing that, MiCA hit every change the identical. That was you, clearing out your personal verified, licensed, tax-paying merchants one after the other till the order guide was a ghost city, while your rivals stored theirs. A compliance department exists to maintain the enterprise protected AND alive. You have been getting paid to make it higher, to not make it worse. You didn't shield the PLN market from danger. You protected it from present.