According to a Jan. 19 announcement, cryptocurrency exchange Binance has tightened its rules for nonfungible token listings. Starting Feb. 2, 2023, Binance will delist all NFTs noted before Oct. 2, 2022 and with an average day-to-day 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 approximately five digital collectibles per day.

Binance NFT requires sellers to finish Know Your Customer (KYC) confirmation and have at least two fans before listing on its platform. In addition to the revised rules, Binance said it would forthwith “occasionally examine” NFT listings that do not “meet its requirements” and suggest them for delisting.

“Users can report NFTs or collections that might remain in infraction of Binance NFT minting rules and terms of service. Our due diligence group will actively examine reports of scams or rule offenses and take the appropriate actions.”

All digital antiques not satisfying the two requirements will be instantly delisted by Feb. 02, 2023. The delisted properties will still appear in users’ wallets afterward. Binance has come under extreme analysis by regulators considering that last year over accusations of lax KYC procedures and its role in processing illegal funds, which the exchange has rejected.

Amidst the Bitzlato cash laundering allegations that surfaced on Jan. 18, the United States Financial Crimes Enforcement Network claimed that Binance was amongst the “leading 3 receiving counterparties” to Bitzlato. As formerly reported, Binance was amongst exchanges that continued to serve non-sanctioned Russians following brand-new sanctions from the European Union.