Binance has limited euro transactions due to a problem.
Cryptocurrency exchange Binance has limited withdrawals due to a problem with its payment provider in the European region. A statement on the subject came from the Binance front.
Cryptocurrency exchange Binance imposes payment restrictions in the Eurozone
There are allegations that the cryptocurrency exchange Binance has decided to limit withdrawals in Europe due to problems with euro transactions through the Single Euro Payment Area (SEPA). In a deleted Twitter message on August 20, Binance customer support stated that they are temporarily suspending withdrawals and deposits of euros with SEPA.
According to Binance’s statement, these issues stem from the payment provider’s inability to support such transactions. Borsa İstanbul stated that they understand the problem and are working to solve it as soon as possible. However, he stated that they are aware that this situation creates discomfort on customers.
This statement was made in response to a previous message in which a user in Europe was unable to withdraw euros to their bank account or sell them on Binance due to the closure of their Paysafe account. The user stated that he had no choice but to wait for Binance to find a new payment provider.
This development comes a few months after Binance’s euro banking partner, Paysafe Payment Solutions, announced that it would be ending support for the crypto exchange. Binance users were asked to accept the new terms and conditions and update their bank information to continue using SEPA services. In its response to Cointelegraph, Binance stated that SEPA services will continue until September 25 as first reported, stating that the customer support message was sent in error.
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