Indian-based cryptocurrency users are claiming that Binance now requires additional information for deposits and withdrawals as a result of its registration with India's Financial Intelligence Unit (FIU). Users must now provide the source of their payments, including their PAN card, and for larger deposits, their name, company, and Aadhaar number. Withdrawals only require an OTP, but users are now expected to submit more personal information due to FIU compliance. Binance and KuCoin have not confirmed or denied these claims, however, screenshots supporting user experiences have been posted. Both exchanges obtained registration from the Indian FIU this year.



Other News from Today