Binance is halting its sterling deposits and withdrawals, a company spokesperson said on Tuesday, 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 would halt its services from May 22, the spokesperson said, impacting all Binance customers."Binance will ensure that affected users are still able to access their GBP balances," the spokesperson said, adding that the change "affects less than 1% of Binance users."
The cessation of sterling transfers, first reported by crypto news outlet The Block, is the latest obstacle for Binance in accessing traditional currencies. Binance last month suspended all dollar bank transfers amid a growing crackdown on crypto by U.S. authorities.The Justice Department is also investigating Binance, run by billionaire CEO Changpeng Zhao, for suspected money laundering and sanctions violations,.
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