The news began to circulate from Monday in Twitter when several users shared an alleged statement from the platform with a report that anticipated the suspension of operations.
According to the company, most users will not be affected, given that only 0.01% of the users Binance monthly assets use bank transfers in dollarsthe spokesperson assured. Other methods for depositing and withdrawing cryptocurrencies and fiat currencies will continue to operate as normal, he explained.
The decision applies to users around the world, with the exception of the United States, where they operate with another bank provider. They also stressed that all other methods of buying and selling cryptocurrencies will work normally, as is the case with credit card transactions.
The measure will not cover other currencies such as the euro either.
“It is worth noting that dollar bank transfers are leveraged by only 0.01% of our monthly active users,” Binance CEO stated, Chengpeng Zhao on his Twitter account, adding that “the team is working to resolve this issue quickly.”
“Some setbacks were expected due to the incidents last year,” he added, referring to the crisis of confidence in the sector and the fall of various cryptocurrency platforms last year such as FTX. Due to this situation, various cryptocurrency companies are having difficulties finding allies in the banking sector to facilitate the sending of money to buy and sell digital assets.
In fact, since the collapse of FTX, various regulatory authorities warn banks of the risk of linking with crypto firms. “While some banks are dropping their support for cryptocurrencies, others are getting in,” Zhao stressed in his message.
Source: Ambito
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