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Binance will temporarily suspend USD deposits and withdrawals on its exchange platform in a move that is scheduled to start on February 8, 2023.
This is according to the latest cryptocurrency news by CNBC.
Monday afternoon, CNBC It was published A news article claims that the world’s largest cryptocurrency exchange, Binance, will temporarily suspend US dollar deposits and withdrawals starting this Wednesday.
A Binance spokesperson shared details with CNBC that the upcoming US dollar-related moratorium will last for several weeks as Binance seeks to secure new banking partners. However, the issue only affects a small percentage of the exchange’s monthly active users, said to be around 0.01%. Binance will reportedly notify all affected customers directly.
The source did not provide any other information that US dollar withdrawals will not be available from a specific date, but confirmed that customers can buy and sell cryptocurrencies via all other supported payment methods. The exchange will also continue to support bank transfers via the other currently supported fiat currencies, said a person familiar with the matter.
Binance is the largest cryptocurrency exchange by trading volume and has a US subsidiary, Binance.US. The US-based unit, which is regulated by the Financial Crimes Enforcement Network (FinCEN), notes that the suspension will not affect its operations.
and Tweet Following this news, Binance.US said this is the case unless there is an official notice from them. In this case, the USD suspension may only affect customers using the global platform.
The price of Binance’s native coin, BNB, has mostly fallen at the time of writing, hovering around $328 at 15:05 PM ET.
