Binance Suspends USD Bank Transfers
- Binance exchange has temporarily suspended all USD bank transfers.
- Only a small proportion of its users will be impacted by the suspension.
- The move is a response to increased global regulation of the crypto market.
Visa Card Available for Global Users
Binance crypto exchange offers an operational Visa card that is available in a dozen of countries and takes roughly 45 days to be shipped depending on the destination. The company prides itself as being one of the largest exchanges by daily traded volume, and also one of the most regulated firms worldwide.
Increased Global Regulation
As global regulators are looking for ways to control the crypto market after recent events, Binance has decided to suspend USD transfers. This move indicates that there is increasing scrutiny on the cryptocurrency industry and that governments are putting measures in place to prevent similar incidents from occurring again.
Impact on Non-US Entities
The non-U.S entities of Binance will operate with specific local currencies where the exchange is regulated. This suspension only affects a small proportion of users, and Binance is working hard to restart services as soon as possible. All other methods of buying and selling crypto remain unaffected.