Binance is suspending USD-based bank transfers

Must read

Binance is suspending USD-based bank transfers

Binance is suspending USD-based bank transfers Oluwapelumi Adejumo · 38 seconds ago · 1 min read ...

Yuga Labs settles case with developer of Ryder Ripps’ copycat project

Yuga Labs settles case with developer of Ryder Ripps’ copycat project Dorian Batycka · 26 mins ago · 4 min...

Riot Platforms’ Bitcoin production hits ATH in January

Riot Platforms’ Bitcoin production hits ATH in January Oluwapelumi Adejumo · 50 mins ago · 1 min read ...

Over $76M invested in crypto funds in past 7 days

Over $76M invested in crypto funds in past 7 days Zeynep Geylan · 1 hour ago · 1 min read...

Binance is suspending USD-based bank transfers Binance is suspending USD-based bank transfers Oluwapelumi Adejumo · 38 seconds ago · 1 min read

Binance said its users’ could use all other methods of buying and selling crypto, including bank transfers in other fiat currencies like Euros.

1 min read

Updated: February 6, 2023 at 5:14 pm

Binance is suspending USD-based bank transfers

Cover art/illustration via CryptoSlate

Binance is temporarily suspending US Dollar-denominated bank transfers from Feb. 8, according to an emailed statement sent to CryptoSlate on Feb. 6.

The firm said it was notifying affected customers directly. A Binance spokesperson said:

“It’s worth noting that only 0.01% of our monthly active users leverage USD bank transfers, but that we are working hard to restart service as soon as possible.”

The exchange added that its users could use other methods of buying and selling crypto, including bank transfers in fiat currencies like Euros.

Binance did not reveal how long the service’s disruption would last.

On Jan. 23, Binance said its banking partner Signature bank would stop processing crypto transactions worth less than $100,000. At the time, the exchange added that the decision would affect the bank’s crypto clients.

More articles

Latest article

Binance is suspending USD-based bank transfers

Binance is suspending USD-based bank transfers Oluwapelumi Adejumo · 38 seconds ago · 1 min read ...

Yuga Labs settles case with developer of Ryder Ripps’ copycat project

Yuga Labs settles case with developer of Ryder Ripps’ copycat project Dorian Batycka · 26 mins ago · 4 min...

Riot Platforms’ Bitcoin production hits ATH in January

Riot Platforms’ Bitcoin production hits ATH in January Oluwapelumi Adejumo · 50 mins ago · 1 min read ...

Over $76M invested in crypto funds in past 7 days

Over $76M invested in crypto funds in past 7 days Zeynep Geylan · 1 hour ago · 1 min read...

UK FCA warn crypto companies to comply with new ad regime or face imprisonment

UK FCA warn crypto companies to comply with new ad regime or face imprisonment Oluwapelumi Adejumo · 3 hours ago ·...