Summary of this article
Binance updates India crypto transfer rules with extra user information requirements.
Applies to deposits and withdrawals, not affecting trading or account access.
Aims compliance with Travel Rule, AML norms, monitoring transaction risks.
Crypto exchange Binance has revised its crypto transfer rules by introducing additional information requirements for both deposit and withdrawal transactions.
The update applies specifically to users in India and came into effect on June 22, 2026. According to the exchange, the changes aim to strengthen transaction-level information collection during crypto transfers.
Who is Affected
The updated requirements apply to all Binance users in India carrying out crypto deposits or withdrawals, which includes transfers involving other exchanges or self-hosted wallets. It will not affect trading activity, access to accounts or any other features on the platform.
Key Updates in Crypto Transfer Process
Under the revised process, users need to provide additional details when sending or receiving crypto assets on the platform. The update applies only to deposit and withdrawal activities, while trading and other account functions remain unchanged.
For crypto deposits into Binance accounts, users will need to provide sender (originator) details, including full name, PAN or National ID, country of residence, state, city or town, PIN code and address when funds are received from another crypto exchange or a self-hosted wallet.
For withdrawals from Binance, users will need to provide beneficiary details such as full name, country of residence, and city or town when sending funds to another crypto exchange or a self-hosted wallet. If funds are sent to another exchange account owned by the user, only the name of the receiving exchange is required.
How the process works
The exchange has stated that users see pop-up notifications during deposit and withdrawal transactions, prompting them to enter the required information. Inbound transfers require originator details to be filled in via a pending credit section, while outbound transfers require beneficiary information before completion.
Binance told Outlook Money that the updated requirements are part of its existing Travel Rule compliance framework and do not represent a new or changed process. The exchange said originator and beneficiary information is collected for transaction monitoring, risk assessment and anti-money laundering (AML) compliance.
The changes come amid existing compliance requirements for virtual digital asset transactions in India, including taxation provisions such as a 30 per cent tax on gains and a 1 per cent TDS on transactions, along with FIU-India registration and anti-money laundering obligations for crypto platforms.
