Cryptocurrency exchange Binance has suspended Australian dollar services as its local payment services provider has seemingly stopped support for the exchange.
On May 18, Binance tweeted that AUD PayID deposits and bank transfer withdrawals were suspended “due to a decision made by our third-party payment service provider.”
“We understand from our third party payment service provider that Bank Transfer withdrawals will also be impacted and we will advise users on timeline when this is confirmed,” it added.
Fellow Binancians,
We regret to inform you that with immediate effect we are unable to facilitate PayID AUD deposits for Binance users due to a decision made by our third party payment service provider. We understand from our third party payment service provider that Bank…
— Binance Australia (@Binance_AUS) May 18, 2023
Binance said it is now working to find an alternative provider to continue offering AUD deposits and withdrawals to its users.
The ability to buy and sell crypto using credit or debit cards is still available, it added.
Binance just got de-banked in Australia
which country is next? pic.twitter.com/SiLBrj9pYu
— Liquidity Goblin (@liquiditygoblin) May 18, 2023
“Notably, you can still buy and sell crypto using credit or debit card and our Binance P2P marketplace will also continue to operate as usual. Rest assured that your funds are safe through the Secure Asset Fund for Users (SAFU), an insurance fund that offers protection to Binance users and their funds in the event of extreme situations,” it added.
This is a developing story, and further information will be added as it becomes available.
Disclaimer: CryptoNewsBook is an online aggregator that fetches latest crypto news from different sources. This article is provided for general information purposes ONLY and contains data fetched from third party sources; hence, we do not endorse its accuracy. For more details, kindly visit The Source. Please report any fake news or false statement to Our Support Team. If you are the original owner of this content and wish it to be removed on this platform, kindly forward your request to Our Support Team.
Also Note: Cryptocurrencies are unregulated, and no part of this article should be understood nor interpreted as a recommendation/advice. #s1
