Binance will require South African users to submit detailed information regarding cryptocurrency deposits and withdrawals starting October 30th. This new regulation, reported by Cointelegraph, is being implemented at the request of South African regulatory authorities to enhance transparency and compliance within the crypto space. Mandatory Information for Crypto Transactions Under the new rules, South African Binance users must provide specific details when making deposits or withdrawals. For deposits, users need to disclose their name, country of residence, and the originating cryptocurrency exchange. For withdrawals, the recipient's name is required. Potential Transaction Delays Binance has warned users that incomplete or inaccurate information could lead to delays in processing transactions or even the return of funds. It is crucial for South African Binance users to ensure they provide all the required information accurately to avoid any disruptions. This move reflects increasing regulatory scrutiny of cryptocurrency exchanges globally. ```