Main navigation

Binance Suspends Euro Deposits Via Bank Transfers Amid Regulatory Scrutiny

News
Tue, 07/06/2021 - 19:06
article image
Alex Dovbnya
Binance has temporarily disabled SEPA-powered euro deposits for unknown reasons
Binance Suspends Euro Deposits Via Bank Transfers Amid Regulatory Scrutiny
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Cryptocurrency exchange Binance has suspended euro deposits via the Single Euro Payments Area (SEPA) network due to events that are “beyond” its control, according to an email sent to its customers:    

Due to events beyond our control, we are temporarily suspending EUR deposits via SEPA Bank Transfers from 8 am UTC on July 7, 2021.

Binance claims that it’s working with its partners to resolve the problem.

Related
Binance Facing Class Action Lawsuit After Failing to Handle Elon Musk's Bitcoin Bombshell

Customers will still be able to make euro deposits to the world’s largest cryptocurrency exchange via credit cards and debit cards.

The suspension of bank transfers comes amid increasing regulatory scrutiny faced by Binance from regulators around the world.           

As reported by U.Today, Barclays banned cardholders from conducting payments to the exchange on July 5.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.