Binance a annoncée le 18 avril dernier une nouvelle mesures pour ses Indian users, following previous violations of the country's anti-money laundering (AML) laws. These are the more stringent KYC (Know Your Customer) procedures.

The new measure implemented by Binance is part of the platform's overall compliance strategy. It aims to align with Indian financial regulations. Thus, Indian users are now required to reverify their identity by submitting up-to-date documents, including their Permanent Account Number (PAN), a mandatory 10-character alphanumeric code issued by the Tax Department for financial transactions. According to Binance, this reverification is not exclusive to its platform, but applies to all cryptocurrency exchange platforms subject to Indian anti-money laundering legislation

With this updated KYC process, Binance signals its commitment to adhering to Indian financial regulations, improving user protection, and regaining the trust of regulators and its user base.