Binance Halts All USD Transfers As It Searches For New Banking Partner

Crypto exchange Binance is suspending all bank transfers in US dollars beginning on February 8.

Coindesk on Monday confirmed that Binance is preparing to temporarily halt all bank deposits and withdrawals denominated in US dollars. “We are temporarily suspending USD bank transfers as of February 8th,” a spokesperson for the exchange said. “In the interim, all other methods of buying and selling crypto remain unaffected, including bank transfer using one of the other fiat currencies supported by Binance (including Euros), buying and selling crypto via credit card, debit card, Google Pay and Apple Pay and via our Binance P2P marketplace,” they added.

According to unverified reports, the suspension is expected to last approximately several weeks, while the exchange searches for an alternative banking partner. According to Binance, the temporary move is expected to only affect approximately 0.01% of active users, whom are being informed directly.


Information for this briefing was found via Coindesk and Twitter. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Euro Sun: Rovina Copper-Gold Project Secures Some Major Funding

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Binance Refuses to Block Russian Access to Crypto

Binance, the world’s largest crypto exchange, said it would only freeze the accounts of sanctioned...

Wednesday, March 2, 2022, 01:23:00 PM

Bitcoin Briefly Plummets 87% on Binance’s US Exchange Due to ‘Fat Finger’ Error

The crypto market appears to be running into troubles as of late, after bitcoin was...

Saturday, October 23, 2021, 02:42:00 PM

SBF, Prosecutors Allegedly Discussing Bail Deal Upon US Extradition

Sam Bankman-Fried, the disgraced FTX founder accused of orchestrating one of the biggest ponzi schemes...

Wednesday, December 21, 2022, 11:13:48 AM

No ID, No Trading: EU Now Requires Identification For All Crypto Transactions

The Council of the European Union has given final approval to the Markets in Crypto...

Wednesday, May 17, 2023, 11:31:00 AM

Crypto Money Laundering Soared 30% in 2021

Money laundering involving cryptocurrencies soared by 30% last year, as cyber criminals increasingly turn to...

Saturday, January 29, 2022, 03:31:00 PM