Binance Sets New Crypto Transfer Requirements for South African Users
New Binance Regulations Demand Sender and Receiver Info for South African Crypto Transfers
Crypto exchange Binance announced on April 22 that it will begin requiring more detailed information for cryptocurrency transfers involving South African users, a move prompted by local regulatory obligations. These new measures, scheduled to take effect on April 30, will impact how deposits and withdrawals are processed on the platform. As part of the rollout, users will also need to log in to their accounts again beginning April 24.
In its announcement, Binance stated:
In adherence to local regulatory requirements, Binance will gradually introduce changes to crypto withdrawal and deposit procedures for South African users to make sure we continue operating in full compliance to the local requirements.