Binance Crypto Exchange Temporarily Suspends Payments From EU-FT’s Sepa Network | Y100 WNCY | Your home for the country and for fun

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(Reuters) – The Binance cryptocurrency exchange will temporarily suspend euro bank deposits from one of Europe’s major payment networks, the Financial Times reported on Tuesday, citing an email sent to users by the exchange.

He said that from 8 a.m. Coordinated Universal Time, customers would no longer be able to deposit funds through the systems of the Single Euro Payments Area, or Sepa, according to the newspaper. The move was due to events beyond our control, the exchange said in the email cited by the FT https://on.ft.com/36eLSLS.

The network, which is a European Union project that aims to harmonize euro payments in the region, allows consumers to send euros to three dozen countries, according to the report. Binance typically accesses Sepa through payment intermediaries.

Binance did not immediately respond to a request for comment on Tuesday. The company has recently faced a series of crackdowns on the platform by regulators around the world.

The Thai financial watchdog filed a criminal complaint against the cryptocurrency exchange on Friday for operating an unlicensed digital asset business, and the UK financial watchdog recently banned the company from operating regulated in the country.

The Japanese regulator said last month that Binance was operating illegally in the country. The German watchdog said in April it was facing a fine for offering tokens linked to stocks.

(Reporting by Kanishka Singh in Bengaluru; Editing by Leslie Adler and Sonya Hepinstall)

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