Without any explanation, crypto exchange Binance said that it would suspend U.S. dollar transfers, but the company's subsidiary, Binance US, stated in a tweet that it is unaffected by the ban.
The largest cryptocurrency exchange in the world, Binance, said on Monday that it would stop accepting deposits and withdrawals in dollars. The business gave no explanation for the move.
“We are temporarily suspending USD bank transfers as of February 8th,” said a Binance spokesperson. “Affected customers are being notified directly.” The company said “0.01% of our monthly active users leverage USD bank transfers” and added that “we are working hard to restart service as soon as possible.”
The company's subsidiary Binance US, which is subject to regulation by the Financial Crimes Enforcement Network of the Treasury Department, stated in a tweet that it is unaffected by the ban. Only non-U.S. clients who transfer money to or from bank accounts in dollars are affected by the change.
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