Binance Exchange suddenly suspends SEPA deposits in Euros

By: Bharggavi Ssayee

July 9, 2021 9:55 PM

The leader of crypto exchanges Binance, faced in recent weeks with several regulatory disappointments especially in Great Britain, announced overnight that deposits in euros via the SEPA network would be temporarily interrupted from 8 a.m. this morning.

SEPA transfers to Binance suspended

This is information from the Financial Times (subscriber edition) which reveals it: by email, the giant Binance informed some of its customers in the European zone that SEPA euro transfers would be interrupted "temporarily and for an indefinite period" from 8 a.m. this Wednesday July 7, 2021.

The platform explains in its email that the suspension would be "due to events beyond [its] control" and that it "was working hard to find a solution with [its] partners. "

Binance has a culture of communication and responsiveness that should allow it to quickly adapt to this situation, regardless of the origin. Moreover, it is difficult not to see the efforts that the platform is deploying to remain in the good graces of regulators of all stripes, including in the United States, little known for their flexibility in this area. No particular reasons to be alarmed therefore, the JDC will keep you informed of developments in the situation.