IndianCryptoCommunity

Yes, Binance has officially mandated KYC (Know Your Customer) re-verification for all Indian users, both new and existing. This update was announced on April 18, 2025, as part of Binance's efforts to comply with India's anti-money laundering (AML) regulations and to enhance account security.
Key Details:
Mandatory PAN Verification: Users are required to submit their Permanent Account Number (PAN) details as part of the KYC process. This aligns with Indian AML laws and is a standard requirement for all crypto platforms registered under India's AML legislation
Deadline: While Binance has not specified a universal deadline, reports indicate that users who fail to complete the re-verification by April 20, 2025, may face restrictions on trading and withdrawals.
Compliance Status: Binance is now registered with India's Financial Intelligence Unit (FIU-IND), reinforcing its commitment to adhere to local financial regulations BINANCE
What You Should Do:
1. Check Your Email: Binance has sent detailed instructions regarding the re-verification process to affected users.
2. Complete KYC Re-Verification:
Log in to your Binance account.Navigate to the "Identity Verification" section.Submit the required documents, including your PAN card.Complete the live face verification process.
3. Act Promptly: To avoid any disruptions to your account, it's advisable to complete the re-verification process as soon as possible.
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The chief economic advisor of India wants regulators to promote revolution in the cryptocurrency sector at the time of upholding transparency and accountability.
Moving forward, he highlighted the significance of transparency mentioning that regulators should not be afraid of sharing information and ensuring their actions line up with the societal goals.
The policy paper clarifying crypto’s standing is continuously been delayed as the country has changed its resources towards making and testing the central bank digital currency. 
The new governor of the Reserve Bank of India, Sanjay Malhotra attended his first press conference on  December 11, in which he said that the central bank will continue its continuity and stability in policy matters, but highlighted the need to remain “alert and agile” in terms of the existing global economic and political environment. 
In his first interaction, the Governor said that we have to be aware of the fact that we continue to maintain continuity as well as stability, we can not be glued to it, and we have to be alert and agile to tackle challenges. 
In his statement, he also highlighted that regulators should not be in the way of innovation be it cryptocurrency or online gaming. And, the central bank will be interacting with all sectors such as financial regulators, state governments, and the center to carry on the Reserve Bank’s legacy. 
What does the chief economic advisor say? 
The chief economic advisor of India wants regulators to promote revolution in the cryptocurrency sector at the time of upholding transparency and accountability. At the Global Economic Policy Forum 2023, V. Anantha Nageswaran, the chief economic advisor of the Ministry of Finance revealed that regulators must not in the way of innovation in crypto mainly including Bitcoin. 
He mainly highlighted the requirement to balance revolution with societal requirements, highlighting that financial illiteracy is the major problem in our country and many developed countries. We need to make sure that the criteria set for regulators don’t hinder revolution. 
Moving forward, he highlighted the significance of transparency mentioning that regulators should not be afraid of sharing information and ensuring their actions line up with the societal goals. As per the official, the same theory that applies to the financial revolution must also apply to regulators. 
The policy paper 
By sticking to these norms and identifying the limits of their unelected powers, he claimed, regulators can back growth in fast-growing markets such as cryptocurrency while protecting public interests. 
The policy paper clarifying crypto’s standing is continuously been delayed as the country has changed its resources towards making and testing the central bank digital currency (CBDC). 
The Reserve Bank of India which has opposed cryptocurrencies for a long time, has continued a careful stance having some reports claiming that the regulators are in favour of restricting private cryptocurrencies because of concerns revolving around financial stability and risks to investors. 
Not long ago, Jetking Infortrain, an IT company in India created history after becoming the first publicly listed business in the country to add Bitcoin to its corporate portfolio. 

New Delhi, India – According to the reports, after the rule of PAN card verification became mandatory for all, an increasing number of Indian Cryptocurrency investors are withdrawing their funds from Binance. This step is taken to follow India’s financial regulations, but many Indian investors or users are worried about it. 
Why Are the Investors Leaving?
According to present reports, Binance recently said that this is mandatory for all Indian users who invested in Cryptocurrency are required to complete their identity verification by linking their Permanent Account Number (PAN) card. According to reports, people who are not doing or fail to complete their identity verification may face temporary restrictions on their official account, which also includes limits on trading and withdrawals. So many investors are worried about it that the tax officials are checking their accounts more deeply, and it has a big impact on their crypto investments or any holdings in the market. 
Target Date for PAN Verification 
According to the reports, Binance has given a last date of 20th April 2025 for the Indian users who are investing their funds in the crypto market to verify their accounts with their official PAN card. If after this given date, users who have not completed their account verification process will not be able to trade in any Market or withdraw funds from their official accounts. 
Effect on the Crypto Community 
According to reports, many of the Indian crypto traders who don’t want to complete their identity verification by PAN card are presently shifting their funds to other exchanges that do not require identity verification by PAN Card and any other requirements. Many investors are investing their investments in decentralized wallets to avoid this kind of identity verification.
Legal Requirements in India 
According to the reports, after facing government pressure in 2024, Binance officially signed up with India’s Financial Intelligence Unit (FIU-IND). This was observed by new KYC (Know Your Customer) policies guidelines to complete their agreement with anti-money laundering laws, and this PAN card verification requirement is part of this procedure. 
What Should Investors Do? 
After the given target date is 31 March, Binance users want to decide whether to complete their identity verification under the new rules & regulations by Binance or to withdraw their funds before the impact of the restrictions. The experts also gave their advice to everyone who invested to update on the given changes and other exchanges if needed. 
According to the reports, India is restricting its grip on Cryptocurrency rules and regulations; Binance is showing its signals to move on strict agreement rules & regulations, which may show some effect on the crypto trading market in the upcoming few months.#IndianCryptoCommunity
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