Crypto exchange Binance Australia stopped some Aussie dollar deposit services and warned bank transfer withdrawals will also be affected, citing the decision of an external payments provider.
(Bloomberg) — Crypto exchange Binance Australia stopped some Aussie dollar deposit services and warned bank transfer withdrawals will also be affected, citing the decision of an external payments provider.
Binance Australia said in a tweet on Thursday that it can no longer offer so-called PayID deposits and that the company will provide an update on the impact on bank transfer withdrawals pending further confirmation.
“We are working hard to find an alternative provider to continue offering AUD deposits and withdrawals to our users,” Binance Australia said.
In April, the Australian Securities and Investments Commission canceled Binance’s license for its derivatives business in the country as it conducts a review of the group’s local operations.
Read more: Australia Cancels License for Binance’s Derivatives Business
Binance’s global business and a US platform are the subject of a web of probes. The US Commodity Futures Trading Commission sued Binance and its Chief Executive Officer Changpeng “CZ” Zhao for allegedly violating derivatives regulations and accused the firm of having “sham” compliance procedures. Binance has called the lawsuit “unexpected and disappointing.”
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