Binance Suspending USD Deposits and Withdrawals on February 8th

Cetoex News - Binance is temporarily suspending USD deposits and withdrawals starting on February 8, 2023, as they resolve an administrative issue. In a statement issued to Watcher.Guru, a Binance spokesperson assured affected customers were to be notified directly, with the suspension only affecting 0.01% of monthly active users.

Currently, there is no reasoning given behind the suspension of USD withdrawals. Conversely, Binance has assured that “All other methods of buying and selling crypto remain unaffected, including bank transfer using one of the other fiat currencies supported by Binance,” according to the spokesperson.

Binance Suspending USD Deposits

The largest cryptocurrency exchange platform by trading volume, Binance, will suspend USD deposits and withdrawals on February 8, 2023. The halt on the activity of the currency was addressed in a statement given to Watcher.Guru through a Binance spokesperson.

The statement noted, “We are temporarily suspending USD bank transfers as of February 8th. Affected customers are being notified directly.” Moreover, stating that “only 0.01% of our monthly active users leverage USD bank transfers,” within the statement. Conclsuveily, noting they are “working hard to restart service as soon as possible.”

Additionally, the statement noted, “All other methods of buying and selling crypto remain unaffected, including bank transfers using one of the other fiat currencies supported by Binance (Including Euros), buying and selling crypto via credit card, debit card, Google Pay and Apple Pay, and via our Binance P2P marketplace.”

There has been no reason given for the suspensions taking place in just a few days. Subsequently, there has been no firm timetable as to when the suspension of USD activity would e lifted for the platform. The situation is continuing to develop.

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