Binance tightens rules for India users, falls in line

Binance, the world's largest crypto exchange, is now requiring Indian users to provide more details for every crypto deposit and withdrawal. This move aims to enhance transaction traceability and address concerns from regulators about potential misuse of virtual digital assets for circumventing foreign exchange rules. The new procedures, effective June 22, 2026, demand information on both originators and beneficiaries, creating a clearer audit trail for cross-border crypto flows.

Raccontata daeconomictimes.indiatimes.com