Binance, the world’s largest crypto exchange, is suspending US dollar bank transfers, the company said.
Starting from Wednesday, users will not be able to transfer into US dollars, a spokesperson confirmed to the website CoinDesk.
From February 8th, we will temporarily suspend all USD bank transfers.
Only a small proportion of our users will be impacted by this and we are working hard to restart the service as soon as possible.
All other methods of buying and selling crypto remain unaffected.
— Binance (@binance) February 6, 2023
“We are temporarily suspending USD bank transfers as of February 8th," a Binance spokesperson told CoinDesk, noting just 0.01% of monthly active users use USD bank transfers.
"Affected customers are being notified directly."
"In the interim, all other methods of buying and selling crypto remain unaffected, including bank transfer 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.”