Why is Binance requiring more identity information for crypto transfers in India?

Binance introduced the checks to comply with India’s anti-money laundering requirements and the Financial Action Task Force Travel Rule. The new process requires users to provide sender or recipient information for crypto deposits and withdrawals from June 22, 2026.

What information does Binance require for crypto withdrawals in India?

Binance now requires details about the recipient of a crypto transfer, including the recipient’s name, country of residence, city and, where applicable, the receiving exchange. The information must be submitted before a withdrawal can be completed.

How is Binance handling incoming crypto transfers in India?

Binance requires users receiving cryptocurrency to provide information about the sender. This may include the sender’s name, Permanent Account Number (PAN), national identification details, address and location.

What does India’s Travel Rule mean for Binance users?

Binance must collect information about people involved in crypto transfers because India applies the Travel Rule to transfers of all sizes. This is broader than the FATF guideline, which generally focuses on transfers above US$1,000.

How does Binance’s approach compare with other Indian crypto exchanges?

Binance has aligned its transfer procedures with requirements already adopted by Indian exchanges such as WazirX and CoinDCX. These platforms already collect transaction-party information to comply with India’s crypto regulatory framework.

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Binance adds India crypto transfer checks

Written by Jon CuthbertPublished Jun 23, 2026, 5:25 AM

Binance introduced new identity verification requirements for crypto deposits and withdrawals in India from June 22, 2026.
Users must provide sender or recipient information before completing digital asset transfers on the platform.
The changes align Binance with India's anti-money laundering rules and broader regulatory requirements for crypto service providers.

Binance announced new transfer verification requirements for Indian users, requiring additional sender and recipient information for crypto deposits and withdrawals from June 22, 2026.

The update follows India's implementation of the Financial Action Task Force Travel Rule and comes after local exchanges had already introduced similar compliance measures.

Binance said users must now share information about the sender or recipient before completing crypto transfers on the platform.

For withdrawals, users may need to provide the recipient's name, country of residence, city and receiving exchange, while incoming transfers may require details including the sender's name, PAN, identification information and address.

The changes expand Binance's compliance obligations in India after its registration with the Financial Intelligence Unit, and following the announcement the Binance share price was unavailable.

India applies Travel Rule requirements to crypto transfers of all sizes, whereas FATF guidelines generally focus on transfers exceeding US$1,000.

The latest measures follow Binance's August 2024 registration under India's anti-money laundering framework and align its transfer procedures with local platforms including WazirX and CoinDCX.