WATCH: Binance Facing Emergency In Yet Another Country
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June 28, 2023 11:30 am
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Binance continues to be targeted globally and now faces an all-out assault in the Western world.
ProCoin News previously reported that Binance was forced to exit the Netherlands, is facing immense regulatory pressure across Europe, and was sued by the U.S. Securities and Exchange Commission.
Now Binance is facing yet another emergency in another country—Australia.
According to reports, Australia has been completely severed from its local banking partners and was only given a 12-hour notice prior to losing its banking partners.
Crypto Tips had this to say:
Coin Telegraph explained, “Less than a day of notice was given to Binance Australia when it was suddenly told it would lose access to the local banking system, the exchange’s general manager Ben Rose told an audience in Sydney.”
Less than a day of notice was given to @Binance_AUS when it was suddenly told it would lose access to the local banking system, the exchange's general manager @mrbenrose told an audience in Sydney. https://t.co/DhXddWkqL6
— Cointelegraph (@Cointelegraph) June 27, 2023
Decrypt reports:
Binance’s Australian branch today announced that it is “unable to facilitate PayID deposits” for its users.
The crypto exchange attributed the loss of the onramp “to a decision made by our third-party payment service provider” and says bank transfer withdrawals have also been affected.
One individual notes all the countries than Binance is facing trouble in, including: Canada, Japan, the UK, France, Australia, Belgium, and the Netherlands.
Binance is now banned in ?
Canada, Japan, UK, France, Australia, Belgium, Netherlands
Binance is under investigation in ?
France, US and a few more countries i think https://t.co/eUEMepVXZJ
— 🦜 ParrotCrew 🦜 (@ParrotCrew) June 26, 2023
Binance Australia's banking services have been disconnected from the local banking system without warning. This is expected to affect around one million customers.
— Emera Sandra Polz (@jalaljalal971) June 28, 2023
Bitcoinist provided this response from Binance regional manager Ben Rose:
“We received 24 hours’ notice of debanking at 11:30 pm in the evening, that was later turned into 12 hours, and so we had our banking cut off.”
Amid ongoing discussions, Binance Australia chose not to disclose any additional details regarding their search for an alternative third-party payments provider.
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