Binance has announced that all users in India, both new and existing, are required to complete a Know Your Customer (KYC) re-verification process. This step is part of the exchange’s ongoing efforts to meet global compliance standards and strengthen account security.
In line with India’s anti-money laundering (AML) laws, Binance is requesting users to provide valid PAN (Permanent Account Number) details. The exchange emphasized that this is a standard requirement for all crypto platforms registered under Indian AML legislation.
Binance, which is registered with India’s Financial Intelligence Unit, assured users that any personal information submitted will be handled securely and only used to meet legal obligations.
The platform has sent detailed instructions via email to affected users and thanked the community for its continued cooperation and support.
This update follows recent reports that the Income Tax Department has asked whether the 1% TDS on crypto transactions has been collected. Indian investors are now required to either show proof that TDS was paid or provide documents explaining why it doesn’t apply to them, as per official tax notices.
FTX founder Sam Bankman-Fried was moved to the low-security Federal Correctional Institution Terminal Island in…
Bitcoin advocate and JAN3 CEO Samson Mow has issued a strong warning for crypto investors,…
XRP has seen a rough few weeks, dropping 16.4% over the past 30 days and…
The crypto markets have gained some momentum since the start of the week, which has…
Story Highlights The price of the Kadena token is . The Kadena price could reach…
Veteran trader Peter Brandt has issued a stark warning for Ethereum holders, predicting the asset…
