Binance is halting its sterling deposits and withdrawals, a company spokesperson said on Tuesday, a month after the world’s largest cryptocurrency platform halted transfers of dollars.
Binance has been notified by its GBP transfer partner Paysafe that it will suspend its services from May 22, the spokesperson said, impacting all of the company’s customers.
Sterling transfers to new users were suspended on Monday, the spokesman said.
“Binance will ensure affected users can still access their sterling balances,” the spokesperson said, adding that the change “affects less than 1% of users”
Binance, which has more than 128 million customers, did not provide details on how many customers the change will impact. The company is working to find an “alternative solution” for transfers in sterling, the spokesman said.
The disruption to sterling transfers, first reported by The Block news outlet, is the latest hurdle for Binance to access traditional currencies. Last month, the platform suspended all bank transfers in dollars due to a growing crackdown by US authorities.
Paysafe did not immediately respond to a Reuters request for comment. The company offers the service through UK payments network Faster Payments, which did not have immediate comment.
Source: Terra
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