Binance To Halt Sterling Transfers
Binance is halting its sterling deposits and withdrawals, a company spokesperson said on 14th March, a month after the world’s largest crypto exchange ceased dollar transfers.
Binance has been informed by its partner for sterling transfers, Paysafe, that it will cease operations on May 22, affecting all Binance customers.
Binance, which has over 128 million customers, did not specify how many customers would be affected by the change. According to the spokesperson, the company is working to find a “alternative solution” for sterling transfers.
The suspension of sterling transfers, as first reported by crypto news outlet The Block, is the latest barrier to Binance’s access to traditional currencies. Binance suspended all dollar bank transfers last month amid a growing crackdown on cryptocurrency by US authorities.
(With inputs from Shikha Singh)
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