Cryptocurrency exchange Binance shocked users with this decision regarding its services in Europe!

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Cryptocurrency exchange Binance has told users in an email that it will temporarily suspend Eurobank deposits from one of Europe’s leading payment networks. Binance gave this information to users via an email on Tuesday. Customers will no longer be able to deposit funds through Single Euro Payments Area or SEPA schemes from 8 a.m. UTC (1:30 p.m. IST) on Wednesday, the email said. The exchange said in an email that the move was due to “events beyond our control.”

“Meanwhile any deposits made through SEPA will be refunded within 7 working days. SEPA withdrawals are unaffected by this suspension”, Binance said. This development was first reported by the Financial Times. The network, which is an EU project aimed at harmonizing euro payments across the region, allows users to send euros to three dozen countries. Binance typically accesses SEPA through payment intermediaries. Binance has recently faced strong crackdown on the platform by regulators globally.

Thailand’s financial watchdog filed a criminal complaint on Friday against a cryptocurrency exchange for operating a digital asset business without a license. The UK financial watchdog recently barred the company from carrying out regulated activities in the country. Japan’s regulator said last month that Binance was operating illegally in the country. Germany’s watchdog said in April that it could be fined for offering tokens linked to shares.<!–


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