- Binance plans to halt deposits and withdrawals in US dollars (USD) on its platform
- Other services would be unaffected
- The suspension is just temporary
Binance plans to halt bank deposits and withdrawals in US dollars (USD) on its platform, according to @Tier10k, a famous Twitter-based financial media outlet. The prominent media account stated that the suspension is expected to endure for some weeks, citing sources acquainted with the case.
The message reveals that the suspension will occur on February 8 at 22:00 (UTC), after which Binance USD deposits will be immediately denied, and USD withdrawals will be temporarily blocked on the site. Nevertheless, it also shows that other services would be unaffected, and customer balances will be maintained.
Moreover, the letter ensures that the suspension is just temporary, as the team is working to address the issues. While the snapshot does not specifically disclose the reason behind the suspension, Tier10k’s analysis suggests that it has to do with concerns with one of Binance’s banking partners.
All other ways of purchasing and selling cryptocurrency, including bank transfers using one of the other fiat currencies offered by Binance (including euros), credit cards, debit cards, Google Pay, Apple Pay, and our Binance P2P marketplace, remain unaffected.
Read CRYPTONEWSLAND on
google news
In other news, Bitget launches aid for Turkish and Syrian earthquake victims. The cryptocurrency exchange Bitget offered condolences to the victims’ families following the aforementioned incident. In addition, the managing director of the exchange, Gracy Chen, disclosed that personnel in Turkey are currently researching ways to assist those harmed by the earthquake.
Recommended News:
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
