Cryptocurrency exchange Binance has suspended euro bank deposits via the Single Euro Payments Area, or SEPA, the Financial Times reports, citing an email sent by the exchange. According to the exchange's notice, Binance decided to temporarily suspend euro deposits from 8am UTC on July 7, 2021.
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"Due to events beyond our control, we are temporarily suspending EUR deposits via SEPA Bank Transfer," Binance said.
However, Binance notes users can still buy cryptocurrencies via debit or credit cards. It remains unclear, what is the reason for the suspension of one of Europe's key payments networks.
The move comes after Barclays, one of the largest British banks by assets, stopped wire transfers to the cryptocurrency exchange with desire to help to keep user's money "safe."
Earlier, the UK Financial Conduct Authority (FCA) banned Binance's UK subsidiary from any regulated activity without prior written approval from the regulator. In the warning, the regulator noted that Binance Markets Limited is part of the Binance Group.
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