Binance To Require Sender, Receiver Details For Crypto Transfers
Starting April 30, 2025, Binance has declared it will start gathering sender and receiver information in line with South Africa’s changing crypto laws. This change seeks to increase openness in the crypto scene of the region and conforms with worldwide norms on anti-money laundering (AML) and counter-terrorism financing (CTF).
Why is This Change Happening?
The Financial Sector Conduct Authority (FSCA) of South Africa has been closely monitoring the cryptocurrency market to guarantee that platforms follow local and international financial rules.
Officially declaring crypto assets as financial goods in 2022, the nation had exchanges registered as Financial Service Providers (FSPs).
In line with the Travel Rule advised by the…
