Binance Coin price tests monthly highs despite Binance suspending deposits and withdrawals in the UK
Binance is suspending deposits and withdrawals via bank transfers and credit cards for UK customers.
Binance halted services in Pounds for new customers, will be completely suspended by May 22, 2023.
The measure comes after its partner payments company Paysafe pulled support for GBP transactions, citing regulation.
Binance Coin price has been following the broader market’s lead rising by nearly 10% in the span of 24 hours to trade above $318.
Binance loses crucial partner in the UK
Binance halted deposits and withdrawals in British Pounds (GBP) for new customers on Monday and announced that it would be suspending the deposit and withdrawal services in GBP via bank transfers and cards completely by May 22, 2023.
The decision came about after the crypto exchange’s local banking partner Paysafe, ended support for the transactions in the local currency, Bloomberg reported.
The payments company stated that it would no longer provide one of its products to Binance’s customers in the country, citing local regulators’ approach to cryptocurrencies. In a statement on Tuesday, Paysafe said,
Binance Coin price tests monthly highs despite Binance suspending deposits and withdrawals in the UK
Binance is suspending deposits and withdrawals via bank transfers and credit cards for UK customers.
Binance halted services in Pounds for new customers, will be completely suspended by May 22, 2023.
The measure comes after its partner payments company Paysafe pulled support for GBP transactions, citing regulation....
