Binance has announced a mandatory re-identification process for users in India, requiring all existing and new customers to verify their accounts once again. This decision aligns with global compliance standards and aims to enhance account security by strengthening KYC (Know Your Customer) procedures. In India, Binance is mandating the provision of valid PAN (Permanent Account Number) information through the KYC renewal process, which complies with Indian Ministry of Finance’s AML laws. Users are assured that their personal information will be kept confidential and used only for legal obligations. Binance has provided detailed instructions on how to complete the verification process via emails. Registered users in India must provide their PAN numbers, integrated into the country’s tax system, to verify their accounts. Binance emphasizes a user-friendly process designed to ensure compliance and prevent account suspension. This move follows recent increased oversight by the Indian Revenue Department regarding cryptocurrency transactions, leading them to request proof of TDS (Tax Deducted at Source) application or documentation regarding its non-implementation. Indian users engaging in high-volume transactions must submit evidence of paid TDS to avoid penalties for potential tax evasion.