Binance tightens South African compliance rules for crypto transfers

Binance will require South African users to provide sender and receiver details for deposits and withdrawals starting April 30.

Binance is set to implement new compliance measures for South African users, requiring sender and receiver information for all crypto deposits and withdrawals.

In an announcement on April 23, the largest exchange in terms of daily trading volume of cryptocurrencies said the move comes in response to local regulatory demands.

Starting April 30, Binance users in South Africa will be prompted to provide additional information when transferring crypto.

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