2023-09-28 13:11:31
On September 28, crypto exchange Binance urged its users to convert their Euros to Tether USDT before the end of October. After that, you will lose the support of the banking partner Paysafe. According to the exchange’s announcement, Paysafe has unilaterally decided that it will no longer process Euro deposits from Binance users following October 31st. However, users will still be able to transfer their euro balance to their bank account in the same way. Binance is battling regulators on multiple fronts The company said Paysafe users will no longer be able to trade EUR spot trading pairs from 4:00 a.m. UTC on September 28, and open orders were canceled an hour later. Binance Convert, which acts as a token swap service, will also be limited to EUR transactions. Paysafe suspended support for euro deposits on September 25. Until now, they handled the fiat deposits and withdrawals of Binance’s European users via SEPA bank transfer. Binance said they are constantly working to find new fiat channels for the exchange. The matter was discussed already on September 27, when Binance France called on its customers to immediately exchange their fiat money in their accounts for crypto. Binance’s exchange is therefore still under pressure, not only in the United States, but everywhere in the so-called “West”. By the way, Paysafe already withdrew from supporting British pound transactions in May. The reason for this was that the UK regulators expressed concern regarding the cooperation with the service provider. Then we can remember that Binance was also forced to leave the Netherlands quite quickly in June, and a week later they were banned from Belgium. In any case, this last ban is no longer alive, Belgian users will be able to connect to Binance once more from September 26.
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