Binance Suspends USD Bank Transfers | news

Cryptocurrency exchange Binance will temporarily suspend deposits and withdrawals in USD for international customers, CNBC reports, citing a spokesperson for the exchange.

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Binance will stop bank transfers in US dollar starting from Feb. 8. The spokesperson pointed out that only 0.01% of its monthly active users leverage USD bank transfers,” adding that it is “working hard to restart service as soon as possible.”

While the reason behind the move remains unclear, Binance.US, the US partner of the international exchange, wrote in a tweet that it is “not affected by this suspension.”

In mid-January, Signature Bank, Binance’s banking partner, said it would no longer process USD SWIFT payments under $100,000. Assperson for Binance said then that Signature Bank “serves 0.01% spoke of the average monthly platform users.”

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