WATCH: Binance Facing Emergency In Yet Another Country

June 28, 2023 11:30 am Comments

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.”


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.

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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