Crypto Giant Binance Suspending All Bank Transfers in US Dollars, Says Freeze Is Temporary

Crypto powerhouse Binance says it’s pausing all bank transfers denominated in the US dollar.

In a brief message on Twitter, the leading crypto exchange by volume says it expects the freeze to affect a small number of users.

“From February 8th, we will temporarily suspend all USD bank transfers.

Only a small proportion of our users will be impacted by this and we are working hard to restart the service as soon as possible. All other methods of buying and selling crypto remain unaffected.”

Binance stopped serving US customers back in 2019 due to regulatory concerns.

The company then formed a partnership that led to the launch of Binance.US, which is a separate US-regulated entity.

Binance says users of Binance.US will not be affected by the transfer freeze.

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