Binance EUR Banking Partner to Halt Support of the Crypto Exchange in September

CoinDesk
CoinDesk

28 Jun 2023 11:46 PM

The exchange recently announced a retreat from the U.K., Netherlands and Cyprus....

  • Binance's current EUR banking partner, Paysafe Payment Solutions Limited, will stop supporting the crypto exchange after September 25.
  • Binance users will need to update their banking details and may be required to accept new terms and conditions to continue using SEPA services.
  • SEPA is the European Union's integrated, cross-border payment network for euro transactions.
  • Binance has faced backlash from financial regulators in Europe and the U.S., including a lawsuit from the SEC.
  • Binance has announced a retreat from the United Kingdom, the Netherlands, Cyprus, and has been ordered to halt offering crypto services in Belgium.
  • The UK's financial regulator expressed concern over Binance gaining access to the country's primary payments network.

The sentiment of the article is negative, as it highlights the challenges and backlash faced by Binance from financial regulators.

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You May Ask

When will Binance's current EUR banking partner stop supporting the crypto exchange?What is SEPA and how is it related to Binance's banking services?Why has Binance faced backlash from financial regulators in Europe and the U.S.?Which countries has Binance announced a retreat from and why?What concerns did the UK's financial regulator have regarding Binance's access to the country's primary payments network?

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