The world's largest cryptocurrency exchange Binance seems to be still struggling to find a new banking partner to handle USD deposits and withdrawals.
According to a source from Twitter, the Binance exchange suddenly announced that it will stop supporting USD deposit and withdrawal transactions from February 9, 2023 because of the loss of a banking partner.
Specifically, Binance will stop supporting USD withdrawals, while USD deposit transactions on the exchange will be rejected and returned to the sender's account. The time to apply the change is from 05:00 AM on February 9 (Vietnam time) until further notice.
A representative of Binance also confirmed the above information to CoinDesk , claiming that only 0.01% of users were affected.
“In the meantime, the rest of the crypto trading methods will remain unaffected, including banking with other Binance-supported fiat currencies (including euros), and buying and selling crypto with credit cards. app, debit card, Google Pay, Apple Pay or through the Binance P2P marketplace.”
The temporary interruption of USD deposit and withdrawal only affects Binance.com, while Binance's exchange for the US market, Binance.US, is still operating normally.
Previously, on January 22, Binance admitted that one of its banking partners in the US, Signature Bank, had changed the conditions of cooperation with the exchange because it wanted to reduce its exposure to the cryptocurrency sector, Accordingly, only USD transactions with a value of 100,000 USD or more are supported.
The representative of Binance at the time reassured users that only Signature Bank had changed its stance, while other partners were still operating normally and the transaction volume from Signature Bank accounted for only 0.01% of users. Monthly.
Many crypto users are concerned that this could be a signal that the world's largest cryptocurrency exchange has been cut off from its access to the traditional financial industry amid its involvement in a laundering investigation. money from the US Department of Justice , but there is still no evidence to support that hypothesis.
The crypto market has yet to react to the latest Binance news above.
