- Binance tweeted that it has decided to suspend USD transactions from February 8.
- The company added that the suspension will be applicable only to international Binance users.
- It is also informed that all other transactions would be unaffected by the move.
The biggest cryptocurrency exchange Binance announced that the firm would temporarily suspend US dollar transactions from February 2023. Though the company failed to provide further explanation for halting the transactions, it said that except for USD transactions, all other crypto transactions would remain uninfluenced.
On February 7, Binance tweeted sharing the company’s decision to halt USD transactions and securing that the company “is working hard to restart the service as soon as possible”:
From February 8th, we will temporarily suspend all USD bank transfers.Only a small proportion of our users will be impacted by this and we are working hard to restart the service as soon as possible.
All other methods of buying and selling crypto remain unaffected.
— Binance (@binance) February 6, 2023
Notably, Changpeng Zhao, the CEO of Binance commented that the USD transfers comprise only 0.01%: “I…
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