The largest cryptocurrency exchange Binance was left without its main banking partner in Europe. Paysafe Payment Solutions, a payment service provider, will stop supporting the site from September 25th.
Paysafe enabled Binance to make deposits and withdrawals in euros through the SEPA system (a single system for domestic and European transfers that facilitates trading and cross-border payments in euros within the European Union and several other countries). The decision to terminate cooperation was made as a result of a comprehensive analysis of the situation with Binance.
The exchange also stated that it is looking for a new banking partner in Europe and promised to share new information with its users in a timely manner. Binance has assured customers that all other fiat deposits, withdrawals, and buying and selling of cryptocurrencies on Binance.com are still available to users.
This isn’t the first time Binance has run into trouble in Europe. The exchange was forced to curtail its activities in Cyprus and the Netherlands after it did not receive the necessary licenses to operate in these countries. The exchange also faced the refusal of the German financial regulator BaFin to issue a license to store cryptocurrency.
The Belgian regulator FSMA last week ordered Binance to stop providing any virtual currency-related services in the country. France is also investigating Binance, which decided to exit the Dutch market after failing to meet registration requirements as a virtual asset service provider. BaFin warned Binance in 2021 that the exchange risks being fined for offering certain digital tokens to customers in Germany without the required information.
▼
The most interesting and important news on our channel in Telegram
