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.
The Pi Network price charts are showing signs of brewing tension, with the price moving…
The cryptocurrency market continues to keep traders on edge, and XRP is no exception. Let’s…
The Ethereum price soared over 5% this week and surpassed $2,700, while the Shiba Inu…
While the Tron price is trading at $0.27, top analyst Lennaert has forecasted a breakout…
For investors navigating the dynamic world of cryptocurrency, the promise of transforming modest investments into…
U.S. President Donald Trump held a black-tie dinner at his Virginia golf club for 25…