🚨🇮🇳 Binance Introduces KYC Re-Verification for Indian Users ❗
In an effort to enhance user security and align with global anti-money laundering (AML) standards, Binance has announced that all Indian users—both new and existing—must complete a KYC (Know Your Customer) re-verification.
Operating under FIU registration, the crypto exchange is stepping up its compliance measures to prevent financial crime and adhere to India’s AML regulations. As part of the process, users are now required to provide their Permanent Account Number (PAN) to meet the latest requirements.
This mandate affects all crypto exchanges, domestic and international, that provide services in India, aligning with the country's strict financial oversight. Binance assured users that their personal data would be handled securely and only collected when necessary in line with relevant regulations.
In an official statement, Binance emphasized:
“We are committed to fighting financial crime and upholding the highest standards of integrity and security.”
Users have received emails with detailed instructions to complete their re-verification. The move highlights Binance’s ongoing commitment to strengthening security measures and maintaining compliance with evolving international standards.
With tighter rules being enforced, this could mark a significant shift for both Binance and the broader Indian crypto landscape.