Crypto powerhouse Binance says it’s pausing all bank transfers denominated in the US dollar.
In a brief message on Twitter, the leading crypto exchange by volume says it expects the freeze to affect a small number of users.
“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 stopped serving US customers back in 2019 due to regulatory concerns.
The company then formed a partnership that led to the launch of Binance.US, which is a separate US-regulated entity.
Binance says users of Binance.US will not be affected by the transfer freeze.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Fortis Design
