Binance Supercharges Bitcoin and Ether Trading in Argentine, Brazilian, and South African Currencies with Exciting Fee Promotion
SEC's Gensler Deserves Increased Congressional Scrutiny Regarding Crypto Regulation: U.S. Senator
Binance Reaches Out to Low-Cap Crypto Projects in an Effort to Enhance Trading Activity
Paysafe Payment Solutions Limited, Binance's current banking partner for EUR transactions, has announced that it will cease its support for the cryptocurrency exchange starting from September 25th.
“Binance will be changing the provider for EUR deposits and withdrawals via Bank Transfer (SEPA). Our current partner, Paysafe, will no longer be providing these services to Binance users from 25th September 2023,” a spokesperson for the exchange told CoinDesk in an email.
“At that time, our users will need to update the banking details used to deposit to their Binance accounts and may be required to accept new terms and conditions to continue using SEPA services after this date.”
SEPA, which stands for Single Euro Payments Area, serves as the European Union's unified and seamless payment network for cross-border transactions conducted in euros.
Binance notification to users (Binance)
The emergence of this development coincides with Binance, the crypto industry's leading exchange in terms of trading volume, encountering criticism from financial regulatory bodies in Europe and the United States.
In a recent lawsuit, the U.S. Securities and Exchange Commission (SEC) took legal action against Binance, Binance.US, and CEO Changpeng "CZ" Zhao, accusing them of breaching various federal securities laws. The allegations include the unauthorized offering of securities and the mingling of customer funds.
Subsequently, the exchange made public its decision to withdraw operations from the United Kingdom, the Netherlands, and Cyprus. Additionally, Binance was directed by Belgium's market regulator to cease providing cryptocurrency services in the country.
The Financial Times reported in February 2022 that the U.K.'s financial regulator raised concerns about Binance's access to the country's primary payments network. This came after the exchange struck a deal with Paysafe.
