Binance closes referral program for users in Turkey
Binance closes referral program for users in Turkey
Binance, one of the largest cryptocurrency exchanges in the world, has announced the termination of its referral program for users in Turkey. This decision is a direct response to local regulatory frameworks, as the company aims to ensure compliance with Turkish laws and maintain a safe and reliable environment for its users.
In the announcement published by Binance, it was emphasized that while the referral program has been discontinued in Turkey, no other services or features of Binance.com will be affected. Turkish users will continue to have full access to the exchange’s range of products and services without any interruptions.
Key impacts on the referral program
One of the most noticeable changes is that all referral codes previously available through Binance.com have become invalid for users in Turkey. The referral feature is no longer accessible for these users, and new referrals cannot be created. However, Binance has ensured that any commissions earned through the referral system before this announcement remain unaffected. Turkish users who referred others to the platform before the update will continue to receive their referral commissions for invitees who registered before the termination.
Despite the termination of the referral program, Turkish users can still enjoy all other services offered by Binance. This includes cryptocurrency trading, staking, and access to various financial tools that have made the platform popular among crypto enthusiasts. Binance has assured its users that this regulatory adjustment will not affect their access to other services or the security of their assets on the platform.
Compliance with Turkish regulations
This change underscores Binance’s ongoing efforts to comply with local regulations in every region where it operates. The company has made it clear that the decision was necessary to ensure full compliance with Turkey’s regulatory environment. Binance emphasized that providing a legally sound and secure trading environment for all users remains a top priority.
Support for affected users
Binance acknowledged that the termination of the referral program may inconvenience some users. In its announcement, the company expressed gratitude for the continued support from the Turkish community and assured users that its 24/7 customer support team is available to address any questions or concerns during the transition period.
As Binance navigates the complexities of local regulatory compliance, the company’s ability to adapt to evolving legal frameworks has become a crucial part of maintaining its global presence.
Let us recall that earlier, Binance launched a new API tool for staking Solana (SOL) through its Binance Earn platform.
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