Fun

News Feed - 2023-08-21 11:08:12

Helen Partz9 hours agoBinance limits withdrawals in Europe, cites payment processor issuesIn a since-deleted customer service message, Binance said that the failed withdrawals were caused by temporarily suspended euro transactions through SEPA.9338 Total views18 Total sharesListen to article 0:00NewsJoin us on social networksCustomers of the Binance cryptocurrency exchange are allegedly facing troubles with fiat withdrawals in Europe due to issues related to Single Euro Payments Area (SEPA) transfers.


The exchange has allegedly suspended euro withdrawals and deposits via SEPA, Binance’s customer support wrote in a now-deleted message on X (formerly Twitter) on Aug. 20.


In the post, the cryptocurrency exchange said it didn’t have a specific time frame for restoring SEPA transfers, adding that its payment provider “can no longer support these transactions.”


“We understand the inconvenience this has caused, and we’re actively working to resolve this as soon as possible,” Binance said.


The statement came in response to an alleged Binance user in Europe, who claimed to have bought a “large amount of EUR on Binance” a few days ago. The alleged client complained about being unable to withdraw the euros to their bank account or sell them on Binance due to the closure of their Paysafe account. They added:“According to customer support there is nothing I can do about it except waiting for Binance to find a new payment provider. Letting users buy EUR, just to block them from accessing it right afterwards is what you would expect from scam exchanges, not Binance.”


The news comes a few months after Binance informed users that its current euro banking partner, Paysafe Payment Solutions, would discontinue support for the crypto exchange. 


Related:PayPal UK to halt Bitcoin purchases until early 2024


“Users will need to update the banking details used to deposit to their Binance accounts and may be required to accept new terms and conditions to continue using SEPA services after this date,” Binance said at the time.


In a written response to Cointelegraph, Binance said the customer support message on X was “sent in error,” adding that the “SEPA deposit and withdrawal service will continue until 25 September as originally communicated.”


In a separate statement, a Binance spokesperson told Cointelegraph that as Sept. 25 approaches, “Some users may occasionally be asked for more information as part of routine compliance checks, which could lead to early closure of their accounts.” The spokesperson added that Binance "will have alternatives for our users in place before the end of the SEPA service."


Binance’s recent withdrawal-related issues in Europe are not rare for the exchange. In May, the exchange halted Bitcoin (BTC) withdrawals, citing a large backlog of pending withdrawals. The halt came one day after Binance experienced its first withdrawal outage amid a clogged Bitcoin mempool, with more than 400,000 transactions getting stuck on the blockchain.


Magazine: Blockchain games aren’t really decentralized… but that’s about to change# Bitcoin# Business# Europe# Cryptocurrency Exchange# SEPA# BinanceAdd reactionAdd reactionRead moreWhat is profit and loss (PnL) and how to calculate it2024 could be very bullish for crypto — Here’s whyHow to buy Bitcoin with Cash App

News Feed

Prashant Jha11 hours agoBinance applies for Taiwan AML compliance: ReportThe world’s leading crypto exchange by trading volume has reportedly applied to register in Taiwan under the new AML compliance.1040 Total views4
Tom Blackstone2 hours agoBinance charges prove ‘following the rules’ was the right decision — Coinbase CEOBrian Armstrong reflected on the announcement of criminal charges against Binance, stating that Coinbase’s
New Demand for Cryptocurrencies: Trading on Bitcoin Cash KYC-Free Exchange With Blind Escrow
New Demand for Cryptocurrencies: Trading on Bitcoin Cash KYC-Free Exchange With Blind EscrowGovernments are injecting record levels of new money into economies to contain the impact
Pundit Says XRP’s Rise To $1,000 Will Happen A Lot Sooner Than Anticipated
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
SEC Charges 4 People in $295M Global Crypto Ponzi Scheme That Duped Over 100,000 Investors
SEC Charges 4 People in $295M Global Crypto Ponzi Scheme That Duped Over 100,000 Investors The U.S. Securities and Exchange Commission (SEC) has charged four people for their roles
Bankruptcy Court Terminates FTX Naming-Rights Agreement for Miami Heat Arena
Bankruptcy Court Terminates FTX Naming-Rights Agreement for Miami Heat Arena A federal bankruptcy court in the U.S. has ended the FTX naming-rights agreement for Miami Heat’s bas
Optimism Raises $150 Million in Series B Funding Round Led by Paradigm and A16z
Optimism Raises $150 Million in Series B Funding Round Led by Paradigm and A16z Optimism, an L2 (Layer 2) rollup solution for Ethereum, has raised $150 million in its Series B fund
South Korea Seizes $184 Million in Crypto Assets From Alleged Tax Dodgers, Reports Reveal
South Korea Seizes $184 Million in Crypto Assets From Alleged Tax Dodgers, Reports Reveal The government in South Korea has seized cryptocurrency worth around $184 million in two y
How do you put the right valuation on digital assets?
Jupiter Zheng19 hours agoHow do you put the right valuation on digital assets?What"s the best way to place a value on a cryptocurrency? Take your pick, because there are dozens of options.1089 Total views34 Total sharesL
Tom Mitchelhill7 hours agoIRS investigating crypto traders using Puerto Rico tax breaks: Report“The noose is tightening” for wealthy Americans suspected of exploiting Puerto Rico’s relaxed tax regime.3477 Total vie
John McAfee Plans to Tokenize All 535 Members of US Congress
John McAfee Plans to Tokenize All 535 Members of US Congress On Saturday, the notorious John McAfee revealed a new project he’s launching that aims to tokenize all 535 memb
Coinbase to launch DOGE futures, says it 'transcended' meme origins
Tom Mitchelhill6 hours agoCoinbase to launch DOGE futures, says it "transcended" meme originsCrypto exchange Coinbase has announced plans to launch futures trading for Dogecoin, Litecoin and Bitcoin Cash as soon as April