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  • Binance Forces India Users to Update KYC Details After ₹188M AML F…

    Binance Forces India Users to Update KYC Details After ₹188M AML F…


    YEREVAN (CoinChapter.com) — Binance introduced a mandatory KYC re-verification process for all Indian users. This includes both current and new users. They must now update their details and link their Permanent Account Number (PAN).

    FIU Binance India Fine Reached ₹188.2M in 2024Crypto TDS India Investigation Targets Binance Users

    The company shared the update on April 18. In a post on X, Binance said,

    “Users in India may need to re-verify their KYC details, including linking their PAN.”

    Binance India KYC Re-Verification Notice. Source: Binance South Asia on X
    Binance India KYC Re-Verification Notice. Source: Binance South Asia on X

    This rule applies under India’s anti-money laundering (AML) law.

    The PAN is a 10-digit alphanumeric ID issued by the Income Tax Department. It is used for tax reporting and financial transactions. Binance stated this step is required by Indian law and is not exclusive to its platform.

    FIU Binance India Fine Reached ₹188.2M in 2024

    India’s Financial Intelligence Unit (FIU) fined Binance ₹188.2 million in 2024. The fine equaled around $2.2 million. Authorities said Binance failed to meet AML rules. As part of that enforcement, India also asked Apple to remove the Binance app from its App Store.

    Following this, Binance registered with the FIU. Since then, it has introduced new compliance steps, including this Binance India KYC re-verification.

    The company said user information will only be collected for legal compliance. According to its statement, Binance India KYC updates will not include data beyond what is needed under the AML law.

    As part of the Binance KYC update, all Indian users must now link their PAN card. This rule applies to both new and existing accounts. Without this, users may face restrictions.

    Binance Identity Verification Update India. Source: Binance Official Blog
    Binance Identity Verification Update India. Source: Binance Official Blog

    The PAN helps the government track financial activity, including cryptocurrency transactions. The new Binance India KYC requirement aims to align the exchange with India’s financial laws.

    Binance emphasized that this requirement is not unique. All crypto firms operating in India must follow the same regulations. The platform clarified this in its statement on X and through official channels.

    Crypto TDS India Investigation Targets Binance Users

    The Economic Times reported that India’s Income Tax Department is investigating some Binance users. Authorities want to know if traders used the platform to avoid the 1% Tax Deducted at Source (TDS).

    By law, crypto traders in India must either pay TDS or show documents proving exemption. Regulators are checking if Binance allowed users to bypass this rule.

    India has increased its focus on crypto TDS enforcement. This includes monitoring foreign platforms like Binance. The ongoing Binance KYC update is part of the response to that scrutiny.

    Binance said the update supports national AML goals. India crypto regulation now applies to both domestic and foreign platforms. This includes Binance and other global firms registered under Indian law.

    The Binance AML fine in 2024 triggered stricter rules for the exchange. Since then, Binance has worked to stay active in India while meeting regulatory conditions.



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  • Binance Requires All Indian Users to Re-Verify KYC for AML

    Binance Requires All Indian Users to Re-Verify KYC for AML


    • Binance asks all Indian users to re-verify KYC for AML compliance.
    • Exchange collects PAN data to meet India’s money laundering law requirements.

    In a recent development, Indian users of the global crypto exchange Binance have been asked to re-verify their identities. Binance continues its initiatives to follow India’s rigorous anti-money laundering (AML) standards via this implementation. New users, together with current Binance users, need to repeat the Know Your Customer (KYC) process.

    Binance Aligns with India’s PMLA Rules

    Binance has implemented re-verification as part of the Indian authorities’ ongoing efforts to regulate digital assets despite not assigning penalties to noncompliant users. The exchange aims to enhance account security through its latest announcement while following the existing financial regulations of the country.

    Binance works to fulfill its duty under the requirements of India’s Prevention of Money Laundering Act (PMLA), 2002. PAN (Permanent Account Number) data must be obtained from every user, according to Binance. The mandatory steps apply to Binance and every other Indian and foreign crypto exchange that plans to operate lawfully within Indian territory.

    Previously, Binance encountered difficulties operating in the Indian marketplace before proceeding with its plans. The Indian Financial Intelligence Unit (FIU) sanctioned Binance where it imposing a $2.25 million (INR 188.2 million) fine upon the exchange in June 2025. Binance received the penalty from the FIU because it had not properly followed AML procedures during its time of offering services to Indian customers. The FIU found Binance lacked proper protocols for anti-money laundering in its position as a virtual digital asset service provider.

    Furthermore, the reported situation did not exist as a single occurrence. International digital asset platforms offering services to Indian clients received show-cause notices alongside Binance Group. Binance encountered operational restrictions for serving Indian users on its platform at this time.

    Binance Highlights Secure KYC Process to Protect Indian Traders

    Despite these setbacks, the company Binance works actively to settle regulatory matters and conditions. The company established official registration with India’s Financial Intelligence Unit (FIU-IND) in August 2025. The platform achieved a major operational hurdle through this registration because the platform could now run in India without additional interruptions. Indian users regained access to both the Binance website and mobile application after this development.

    The organization viewed this registration as extending its wide-ranging dedication to maintaining international regulatory requirements and preserving openness. Any data obtained through the KYC procedure was presented by the platform as safe and dedicated exclusively to meeting legal requirements.

    At the same time, Binance emphasized that establishing a safe digital asset ecosystem stands as equally crucial to their endeavors. Customers were assured the security-oriented KYC process would prevent inconvenience while protecting trading security.

    Meanwhile, India keeps building up its digital finance regulations throughout this period. The rise of cryptocurrency as a mainstream asset means India will pass new laws that both protect financial investors and stop criminal activities.

    Lastly, Binance emphasizes re-verifying Indian users as part of an industry-wide trend that promotes regulatory compliance in cryptocurrency markets. The exchange, together with the Indian government, works to develop a legally reliable environment that builds trust for digital asset trading.



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  • Bitcoin Bullish Momentum Grows As Binance Metric Shifts To Neutral


    Bitcoin’s positive market sentiment is beginning to build momentum as data indicates buyers are beginning to take over volumes on Binance.

    Positive feelings about Bitcoin might be coming back, as a key number from Binance, the biggest crypto exchange by trade volume, shows that buyers are beginning to take over most of the trading activity.

    The Binance Buy-to-Sell activity ratio, which determines the ratio of buyers to sellers of Bitcoin in Binance, “has moved back to a balanced level,” CryptoQuant supporter DarkFost stated in an April 15 report.

    Bitcoin Regains Upward Momentum

    The ratio presently holds at 1.008. When the ratio is above 1, it means buyers are in control, which is often seen as a sign of positive market sentiment. On the other hand, a ratio below 1 shows that sellers are dominating, indicating negative market sentiment.

    According to CoinMarketCap data, at the time of reporting, Bitcoin is trading at $83,810, dipping 1.47% in the last seven days. 

    “In the last few days, the ratio has been mainly positive, indicating that the Binance derivatives market is seeing a resurgence of bullish sentiment,” Darkfost said. On April 14, when Bitcoin was priced above $86,000, the ratio was higher than 1.1.

    According to CoinGlass data, if Bitcoin recovers $85,000, approx $637 million in short positions may be at risk of being forced out. Most of the important market signals show that investors still prefer Bitcoin over other cryptocurrencies. 

    CoinMarketCap’s Altcoin Season Index is presently at 15 out of 100, meaning it is still mostly “Bitcoin Season.” TradingView’s Bitcoin Dominance Chart shows Bitcoin’s market share is at 63.81%, which has increased by 9.82% this year.

    Bitcoin Bullish Momentum Grows as Binance Metric Shifts to Neutral 1

    Generally, crypto market members are still looking uncertain. The Crypto Fear & Greed Index indicates the general market mood on April 16 is “scared” with a score of 29 out of 100. 

    Some experts, like DeFiDaniel, said that Bitcoin’s recent price movements are “very dull.” 

    On the other hand, Cointelegraph previously reported that Bitcoin’s demand seems to be recovering, but it has not fully improved yet. In the past, Bitcoin’s demand has stayed flat for a long time after hitting a low point, causing its price to move in a sideways pattern.

    Experts have different points of view concerning Bitcoin’s upcoming movement. 

    Real Vision chief crypto expert Jamie Coutts said to Cointelegraph at the end of March that the market might not realise how fast Bitcoin could rise, it could even reach new record highs before the second quarter ends.

    AnchorWatch CEO Rob Hamilton mentioned in an April 15 X post that Bitcoin’s price is staying the same because there is a big battle between people selling Bitcoin to pay their taxes and others buying Bitcoin with their tax refunds. The US tax deadline was April 15.

    Read also:- XRP Technical Analysis: Is XRP on the Verge of a Bullish Reversal?

    Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.

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  • Could This Low-Cost Binance Coin (BNB) Rival Turn $150 into $10,000 in 2025?

    Could This Low-Cost Binance Coin (BNB) Rival Turn $150 into $10,000 in 2025?


    ​Rexas Finance (RXS), a rising crypto token, is gaining fast traction as a potential low-cost Binance Coin (BNB) killer. Investors view it as a clear standout with its strong real-world utility and fast-growing presale momentum. Backed by blockchain integration and tokenization of real assets, Rexas Finance could transform a $150 investment into $10,000 in 2025.

    Rexas Finance (RXS) Bridges Real-World Assets and Blockchain

    Rexas Finance allows users to tokenize and trade real-world assets like real estate, commodities, and artwork. This process connects traditional finance with blockchain, offering broader access and liquidity. Investors can own fractional shares of valuable assets with lower entry costs. Unlike speculative cryptocurrencies, Rexas Finance supports practical use cases that provide lasting value beyond market hype. As more platforms adopt RWA tokenization, Rexas positions itself to capitalize on the growing demand. Its core strength lies in simplifying asset ownership through a secure blockchain process. The platform eliminates barriers by allowing a global audience to easily invest in tokenized assets. With its real-world backing and long-term vision, RXS creates an appealing and accessible ecosystem. As more investors seek real utility, Rexas Finance offers both innovation and purpose.

    Rexas Finance (RXS) Presale Performance and Market Excitement

    Rexas Finance has shown significant growth through its presale, now in its 12th and final stage. The price increased from $0.03 to $0.20, showing more than 6x growth. Over 91% of presale tokens are already sold, totaling $47,106,276 raised. A confirmed listing price of $0.25 suggests immediate gains for early participants upon launch. Investors expect a surge in demand after the launch on June 19, 2025. As more buyers join, confidence grows in RXS as a strong alternative to high-cost tokens like BNB. Institutional and retail interest continues to increase due to RXS’s proven performance and forward-looking approach. As a result, the token gains momentum in conversations about long-term growth opportunities. Investors appreciate that Rexas offers affordability, reliability, and scalability in one package.

    Community Engagement and Trust in Rexas Finance (RXS)

    Trust and transparency have been central to Rexas Finance’s success so far. Its smart contract has passed a full audit by Certik, ensuring investor protection. This certification adds credibility and supports the platform’s commitment to security. The community-led growth strategy positions Rexas as a dependable project built for users. It supports long-term holders and rewards early contributors with real value. With rising trust and engagement, the ecosystem remains strong and prepared for future expansion.

    Conclusion: Why Rexas Finance May Outperform in 2025

    Rexas Finance leads the movement toward real-world asset tokenization, making blockchain investments more secure, usable, and widespread. It presents a rare opportunity for early investors to access high-growth potential with low capital. As a low-cost Binance Coin alternative, RXS could turn $150 into $10,000 within the next year. With a certified platform, growing community, and real-world value, Rexas Finance stands out in today’s crowded crypto market. Its strategic launch and solid presale performance make it a key token to watch.

    Website: https://rexas.com

    Whitepaper: https://rexas.com/rexas-whitepaper.pdf

    Twitter/X: https://x.com/rexasfinance

    Telegram: https://t.me/rexasfinance ​

    Disclaimer: The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets. Past returns do not always guarantee future profits.



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  • Binance in Talks with Governments on Crypto Reserves

    Binance in Talks with Governments on Crypto Reserves


    • Binance advises governments on crypto reserves.
    • Teng highlights US leadership in crypto regulations.

    Binance, the world’s largest cryptocurrency exchange, reportedly advises several countries on creating digital asset regulations and establishing national strategic Bitcoin reserves. The global trend of cryptocurrency regulation matches the move by countries to establish official reserves for the emerging asset class.

    Binance Receives Global Requests for Help with Crypto Regulations

    The Financial Times reported that Binance chief executive Richard Teng explained to them about US progress toward this goal under President Donald Trump. The country continues working towards developing both regulations for digital assets and setting up Bitcoin reserves for national defense.

    He explained that the United States maintains an advanced position regarding cryptocurrency standards among international countries. Several governmental bodies sent requests to Binance to obtain assistance with establishing their digital asset regulatory frameworks after noticing the active stance taken by the US.

    The company received numerous requests from both governments and sovereign wealth funds for assistance, but Teng did not identify the specific countries involved. Binance has previously generated media attention on previous occasions. The exchange became the focus of criminal money laundering and international financial sanctions investigations not long before that date. The penalties Binance accepted exceeded $4.3 billion in costs, while founder Changpeng Zhao left his role as CEO. Zhao served four months behind bars, so Teng took over as head of the company.

    Binance operates worldwide and is growing despite its prior history. From 2019 through 2024, French authorities investigated Binance for potential violations of European regulations to prevent money laundering and combat terrorist financing. Binance refuted the accused’s claims while making a public declaration to defend itself against charges. A five-year monitoring program exists to comply with financial regulations under the oversight of the Financial Crimes Enforcement Network, while the US continues to supervise the exchange.

    Governments Seek Binance’s Expertise for National Crypto Reserves

    Teng emphasized that Binance has made significant improvements in its compliance efforts. Binance intends to keep its substantial investment in compliance as the company employs 6,000 staff members, of whom 25% are dedicated to compliance roles. The present corporate setup of Binance allows regulators to work with it more easily than they could previously.

    Binance provides its assistance to multiple nations in the establishment of national strategic digital asset reserve programs. The exchange has received many approaches from governments and sovereign wealth funds to help create such cryptocurrency reserves. Strategic Bitcoin reserves have been recently introduced by the United States, while many nations follow this pattern. Digital asset traders were disappointed because the plan failed to result in extensive government buying of digital assets.

    The crypto industry leader CZ has been appointed as a strategic advisor to the Pakistan Crypto Council through an official membership. The country takes a major forward step in developing its digital economy through this advancement. The country of Kyrgyzstan reached a major milestone in digital economy development through its essential Memorandum of Understanding (MoU) with Zhao. Kyrgyzstan President Sadyr Japarov led negotiations for this agreement through the National Investment Agency.

    With these developments, Binance is continuing to expand its influence globally. It also helps to shape the future of digital asset regulations and strategies for governments around the world.



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  • Mantra Crash Fallout: Binance, OKX, and Bybit Address Price Drop and Insider Allegations

    Mantra Crash Fallout: Binance, OKX, and Bybit Address Price Drop and Insider Allegations


    After the crash of $OM, the native token of Mantra, a blockchain for real-world asset (RWA) tokenization, three international centralized crypto exchanges (CEXs) have issued statements on the issue.

    Short Background on the $OM Crash

    On April 14, 2025, Philippine time, $OM’s fiat value dropped by more than 90 percent within 24 hours, falling from approximately $6.30 to below $0.50, erasing nearly $6 billion from its market capitalization.

    According to Mantra co-founder John Mullin, the price drop was due to a “massive forced liquidation” on an undisclosed exchange. Meanwhile, the blockchain’s community lead, Dustin McDaniel, cited “reckless liquidations” as the cause of the collapse.

    But the explanation from the Mantra team did not convince the community, as posts on X alleged that the Mantra team or insiders sold off a large portion of the token’s circulating supply. Some even claimed that up to 90 percent was dumped.

    Crypto publication Cointelegraph also revealed on X on-chain data that showed $227 million in $OM was moved to exchanges ahead of the collapse.

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    There are also claims that some investors of Mantra moved their $OM assets from noncustodial crypto wallets to CEXs such as Binance and OKX.

    Statement of International CEXs on $OM Price Drop

    Binance

    In a post on X, Binance Customer Support said on the day of the crash that they were aware of $OM’s significant price volatility.

    The CEX further said it had implemented various risk control measures, including reducing the leverage levels for $OM since October 2024. In January 2025, Binance added a pop-up warning on $OM’s spot trading page to inform users that the token had undergone significant changes to its tokenomics, increasing its supply.

    “Our initial findings indicate that the developments over the past day are a result of cross-exchange liquidations. Binance constantly monitors leverage levels and makes adjustments according to market conditions for risk controls to help reduce volatility.”

    Binance

    Meanwhile, Binance founder Changpeng Zhao shared Cointelegraph’s on-chain data and said that while some people blame Binance for the $OM crash, he was sure that the big transfer of $OM from a wallet to exchanges “knows to avoid Binance.”

    The founder then suggested that CEXs should not have a listing process but instead provide access to all tokens, allowing traders to decide what they want to trade.

    OKX

    Also on the day of the $OM price drop, OKX said it had observed significant volatility of $OM and noticed substantial trading volume spikes and price declines across various CEXs outside of OKX.

    OKX then revealed that it conducted its own investigation using on-chain and internal exchange data:

    “Our investigation uncovered that several on-chain addresses have been executing potentially coordinated large-scale deposits and withdrawals across various centralized exchanges since Mar 2025.”

    Furthermore, OKX CEO Star Xu said the exchange would publish all reports regarding the incident.

    “It’s a big scandal to the whole crypto industry. All of the onchain unlock and deposit data is public, all major exchanges’ collateral and liquidation data can be investigated.”

    Star Xu, Chief Executive Officer, OKX

    To help its users, the exchange said it adjusted a number of platform risk control parameters to mitigate potential impacts, while announcing that certain tokens may experience significant changes in supply, which could result in considerable price volatility.

    A risk warning feature for the $OM trading page was also added to inform users of its increased volatility.

    ByBit

    Meanwhile, Bybit is not only at the center of the liquidity issue for $OM but also of the listing process of the token.

    Two hours before Xu said that OKX would post its investigation findings, an OKX enthusiast alleged that Bybit was going to schools and asking students to download the exchange’s app. Another allegation claimed that Bybit encouraged KOLs to report the OKX wallet to regulators.

    But the most serious accusation is that Bybit charges a $1.4 million listing fee for every project’s token.

    Bybit CEO Ben Zhou immediately denied the allegations and commented on the X post of the OKX enthusiast, saying:

    “The cryptocurrency world is so chaotic because of idiots like you who spread rumors without any evidence and fantasize every day.”

    This article is published on BitPinas: $OM Crash Fallout: Binance, OKX, and Bybit Address Price Drop and Insider Allegations

    What else is happening in Crypto Philippines and beyond?





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  • Bitcoin Bulls Gain Momentum as Binance Metric Signals Neutral

    Bitcoin Bulls Gain Momentum as Binance Metric Signals Neutral


    • A shift to neutrality in Binance’s Taker Buy Sell Ratio suggests a positive outlook for Bitcoin.




    • Bitcoin trades at $84,904.51, with a market cap of $1.68T, eyeing a $85K breakout.

    The Bitcoin marketplace demonstrates positive market indicators. The Binance Taker Buy Sell Ratio indicates market sentiment stability since both buying and selling pressures are equal. DarkFost from CryptoQuant shows that the market shift indicates rising bullish momentum. The current Bitcoin trading value stands at $84,904.51 and shows a 0.07% drop from yesterday, with a market capitalization reaching $1.68 trillion.

    The Binance exchange shows no difference between buying and selling pressure at this moment based on its neutral ratio. Bitcoin traders are focused on recent market developments because they predict Bitcoin will surpass $85,000. Today at 11:30 AM ET Federal Reserve Chair Jerome Powell will provide his address about current inflation statistics and market projections. Market experts predict Powell will give clues about an upcoming interest rate cut which will shape crypto market behavior.

    Binance Taker Ratio Signals Shifting Sentiment

    Source – X

    The level of market participant aggressiveness between those who purchase and sell is determined by the Binance Taker purchase Sell Ratio. Market sentiment currently shows neutrality according to CryptoQuant because both buying and selling activities are equally strong. Price changes in the market tend to be substantial after market equilibrium periods end. The market displayed a neutral reading because Bitcoin bulls became increasingly confident, according to DarkFost.

    The existing connection between Bitcoin market value and price persisted throughout its historical development. A market shows upward growth when buyers create greater pressure to purchase than sellers do to sell. The market lacks dominance by buyers or sellers because it has experienced selling pressure, thus indicating that bear market participants are weakening. Market traders wait to observe whether this situation leads to sustained price elevation.

    Powell’s Speech and Market Implications

    The upcoming address from Jerome Powell draws attention from both financial markets and cryptocurrency markets. Jerome Powell will give his speech concerning inflation and economic projections today at 11:30 AM ET. The market expects that an interest rate decrease will boost the attractiveness of Bitcoin and comparable speculative assets.

    The Federal Reserve’s reduction of interest rates leads to U.S. dollar depreciation, which causes investors to select Bitcoin as their alternative value storage. Since Bitcoin has shown recent signs of market recovery, the market sentiment will probably grow stronger after Powell takes a dovish stance. The market tends to become less bullish whenever Powell makes hawkish statements unexpectedly.

    Additional increases in purchasing activity might allow Bitcoin to overcome resistance at $85,000. Supporters of Bitcoin consider this numerical threshold psychologically important.

    The purpose of Powell’s speech is to cause market fluctuations.. When monetary policy signals loosen, the market views it as an opening to purchase cryptocurrencies. When market rates remain high, sentiment throughout the market tends to decrease. 





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