Binance ‘temporarily suspends’ money from the EU Sepa network

Binance said it would stop the euro bank’s financing from one of Europe’s most important networks at a recent signal of the crypto company losing important connections to the following financial policies.

By email to users on Tuesday, the exchange said that from 8am on international connection Wednesday, customers will no longer be able to save money via the Single Euro Payment Area, or Sepa. The move came as a result of “events beyond our control”, the exchange said.

The networks, an EU operation aimed at integrating euro payments across the region, allow consumers to send euros in thirteen countries.

Binance, who often arrives in Sepa through fundraisers, described the move as “temporary”. But the ban shows up recent ban on customers transferring money to exchange from ordinary banks and other types of financial accounts. Deposits through the Faster Payments network in the UK are included they too are crippled last week. Barclays, one of the region’s largest lenders, said Monday was the case obstruction of UK customers from buying crypto currencies in exchange using bank cards.

Discount is possible via Sepa and Payments Quickly, according to the Binance page. The European Payments Council, which runs Sepa, was not immediately available for comment.

Remove Junction, the paid professor who gave Binance the opportunity to pay promptly and Sepa, did not immediately respond to a request for comment.

Officials around the world have been threatening a growing company, which has set more than $ 5tn in sales this year and says it does not have a legitimate headquarters.

The UK’s finance minister last month said Binance was not allowed running the crypto economy in the country, while Japan recently warned of an exchange that was doing illegal crypto business with Japanese citizens. Thailand has launched an investigation into the company, with the Cayman Islands, where Binance is included, claiming that the group does not have a license to conduct crypto business.

Binance customers can evade the bar by storing traditional currency by transferring their digital currency from another crypto exchange or cryptocurrency wallet.

Binance added that users would be able to purchase cash and goods on their credit and debit cards. It was “working hard to find an answer with our peers”, he added.

The exchange also allows customers to transfer euros through the Sofort network, which is widely used in Germany, Austria and Switzerland.

Binance confirmed the email was accurate to customers, but declined to comment on their relationship with their payers.