Binance Introduces New Compliance Rules for South African Users

Effective April 30, Binance is introducing new compliance measures for its South African users. As per an April 23 statement, users will need to provide detailed sender and receiver information for all crypto transfers on the platform.

The changes require withdrawal initiators to enter the recipient’s full name, country of residence, and, if applicable, their crypto exchange’s name.

For deposits, users must verify sender details by checking the deposit page for pending transactions, where a prompt will request the sender’s full name, country, and exchange origin if relevant.

Failure to provide accurate information may lead to the transaction being blocked or returned. Binance stated these updates are to better align with South African regulatory expectations and ensure uninterrupted service in the region.