Binance says it is suspending deposits and withdrawals in U.S. dollars via bank accounts starting this week. crypto cryptocurrency
Global crypto exchange Binance is suspending deposits and withdrawals in U.S. dollars via bank accounts starting Wednesday as more and more banking institutions try to reduce their exposure to the crypto market. “We are working hard to restart service as soon as possible,” Binance said.Global cryptocurrency exchange Binance is reportedly suspending withdrawals and deposits in U.S. dollars using bank accounts starting Wednesday.
“0.01% of our monthly active users leverage USD bank transfers,” the spokesperson continued, noting that bank transfers using other fiat currencies and other methods of buying and selling cryptocurrencies on Binance, such as using credit cards, Google Pay, and Apple Pay, “remain unaffected.” Meanwhile, Binance US, a unit of Binance that is regulated by the Treasury Department’s Financial Crimes Enforcement Network clarified on Twitter that it is a separate entity from Binance and its customers are not affected by the suspension.A growing number of banks have been reducing their exposure to the crypto market following the collapse of crypto exchange FTX.transactions exceeding $100,000 from the beginning of this month.
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Binance to temporarily suspend bank transfers of U.S. dollarsBinance, the world’s largest crypto exchange, said it would temporarily suspend deposits and withdrawals in U.S. dollars via bank accounts starting Wednesday.
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