A top Binance executive told The Wall Street Journal and Bloomberg last month that Binance expected to pay penalties to resolve U.S. The Justice Department is also investigating Binance, run by billionaire CEO Changpeng Zhao, for suspected money laundering and sanctions violations, Reuters has previously reported. Binance last month suspended all dollar bank transfers amid a growing crackdown on crypto by U.S. ![]() The cessation of sterling transfers, first reported by crypto news outlet The Block, is the latest obstacle for Binance in accessing traditional currencies. The company is working to find an "alternative solution" for sterling transfers, the spokesperson said. "Binance will ensure that affected users are still able to access their GBP balances," the spokesperson said, adding that the change "affects less than 1% of Binance users."īinance, which has more than 128 million customers, did not give details on the number of clients the move would impact. Sterling transfers for new users were stopped on Monday, it said. LONDON (Reuters) - Binance is halting its sterling deposits and withdrawals, a company spokesperson said on Tuesday, a month after the world's largest crypto exchange ceased dollar transfers.īinance has been informed by its partner for sterling transfers, Paysafe, that it would halt its services from May 22, the spokesperson said, impacting all Binance customers. FILE PHOTO: A composition showing crypto currency with the Binance logo.
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