Users of Binance, a cryptocurrency exchange, are expected to face troubles with fiat withdrawals in Europe. It is expected that this took place due to the problems related to Single Euro Payments Area (SEPA) transfers, stated Cointelegraph.
With a now-deleted tweet made on August 20, 2023, by Binance’s customer support, it is believed that the exchange has allegedly paused the exchange of euro through SEPA.
“Users will need to update the banking details used to deposit to their Binance accounts and may be required to accept new terms and conditions to continue using SEPA services after this date,” Binance explained.
Furthermore, it is expected that a spokesperson added that Binance “will have alternatives for our users in place before the end of the SEPA service,” Cointelegraph concluded.
(With insights from Cointelegraph)
