In this wake, many users are wondering whether the evil runs deeper, and whether this suspension heralds more storms to come. In his view, the SEC and FINRA must intervene, and even launch an investigation.Ī tweet that, beyond its biting irony about Binance’s lack of registration, serves as a reminder that the crypto ecosystem remains a minefield, where every decision can have far-reaching repercussions. The echo of this decision reached the ears of John Reed Start, a recognized expert in consulting, who was quick to share his opinion. Reactions and repercussions: an ecosystem in turmoil For users, patience and caution remain the key words. The lesson for all: even official announcements sometimes deserve a double-check. This rectification underlines how even the biggest platforms can encounter communication challenges. And, we’ll be rolling out alternatives for our users before then – stay tuned! Binance clarifies SEPA withdrawal situation The SEPA deposit and withdrawal service will continue until September 25, as originally announced.Īs this date approaches, some users may occasionally be asked to provide additional information as part of normal compliance checks, which could lead to early closure of their accounts. In a clarification, Binance support states: ![]() According to a recent tweet from their support, the first announcement that caused confusion was a mistake, and has since been removed. Binance sets things right: SEPA withdrawals continue until September 25Īs the industry and users try to decipher the consequences of this announcement, Binance provides a crucial clarification. Because at the heart of this withdrawal lies a deeper problem: that of trust. Temporary solutions? Only time will tell. Alternatives are already being proposed, such as the use of Visa cards or the platform’s P2P service. This move is designed to facilitate and accelerate the refund process, ensuring that any remaining EUR/GBP funds are returned to the users concerned as quickly as possible.īut Binance is not standing still. These included the early closure of their Paysafe accounts. Binance SupportĪ whole section of the Binance edifice seems to have been shaken, and with good reason: for many users, SEPA represented the royal road to Euro transactions.Īs a result, some customers identified as intensive Paysafe users took specific action. We understand the inconvenience this has caused, and we’re actively working to resolve this as soon as possible. Unfortunately, our provider can no longer support these transactions. We regret to inform you that we have temporarily suspended EUR withdrawals and deposits via SEPA. Paysafe has announced the cessation of its SEPA deposit services for Binance users.Ĭontinuing on this shockwave, Binance Support clarified the situation: The reason? The withdrawal of its major payment partner, Paysafe, marks a turning point. The announcement shook the community: Binance revealed the imminent suspension of its SEPA credit transfers.
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