Binance announced that from Wednesday all US dollar-based bank payments will be suspended. The only unaffected parties will be the customers of the exchange’s United States branch. Currently Binance has not revealed any particular reasons to explain this crucial decision.
A spokesperson from Binance revealed that only 0.01 percent of monthly users use USD bank transfer, meaning that not many users will be affected by the changes. But still Binance is working hard on restarting the services.
Binance stated that all other payment means will not be affected by this alteration. US dollars will be accepted on all other payment gateways, including cards, and e-wallets. Euro wire transfers will also run as usual.
CEO of Binance, Changpeng Zhao, reveals that banks all over are cutting ties with the exchange. He quotes the FTX and Terra Luna collapse as the main reason why, but there might be other ones such as recent controversy around the exchange and its irregular behavior.
Historically speaking, banks have always had a distanced attitude towards crypto exchanges. Many nations’ central banks have banned the usage of cryptocurrencies, though in recent times we are seeing a rise in adoption as crypto assets are slowly integrated into global economies.
