Dollar stop at Binance

Last Updated: 7 February 2023

Crypto exchange Binance says it is pausing all bank transfers in US dollars.

Dollar payments

Frontman CZ’s company announced the news itself on Twitter.

“From 8 February, we will temporarily suspend all bank transfers in USD. Only a small portion of our users will be affected and we are working hard to restart the service as soon as possible. All other methods of buying and selling crypto will remain unaffected.”

Binance stopped serving US customers in 2019 because it did not have the right paperwork. Regulations eventually caused Binance to set up a separate branch: Binance.US. This is a separate entity for US customers only, who were then also banned from the international trading platform.

The reason for suspending USD payments is not known, except that the measure will take effect from tomorrow (Wednesday, ed.). It is also a temporary measure. The exchange writes on Twitter that users of Binance.US will not be affected by the transfer freeze.

Other news

Earlier this week, Binance came out with a new tax tool. Initially, it can only be used in Canada and France. Customers can emerge all information for tax returns in the relevant jurisdictions at the click of a button.

Binance is also calling on Indian platform WazirX to take their money off the platform. WazirX and Binance are embroiled in a high-profile soap opera and feud.

  • Gabriele Spapperi

    I first came into contact with Bitcoin in 2017 - and since then, the topic of cryptocurrencies has never left me. For this reason, I have also made BTC & Co. part of my profession and write as a freelance author for crypto publications.

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