Binance will implement new compliance measures for South African users, requiring them to provide more detailed information when making deposits and withdrawals

On April 23rd, according to Cointelegraph, Binance plans to implement new compliance measures for South African users, requiring all cryptocurrency deposits and withdrawals to provide sender and receiver information, in response to local regulatory requirements. Starting from April 30th, Binance users in South Africa will be required to provide additional information when transferring cryptocurrencies. For deposits, users must disclose the sender's full name, country of residence, and if applicable, the name of the original cryptocurrency trading platform. Similarly, beneficiary information is also required for withdrawal processing.