In a recent announcement, cryptocurrency exchange Binance has suspended Australian dollar services as its payment services provider has seemingly stopped support for the exchange. Binance tweeted on May 18th that AUD PayID deposits and bank transfer withdrawals were suspended “due to a decision made by our third-party payment service provider.” The exchange went on to state that it was working to find an alternative provider to continue offering AUD deposits and withdrawals to its users. However, the ability to buy and sell crypto using credit or debit cards is still available.
In addition, Binance P2P marketplace will continue to operate as usual. The exchange emphasized that funds are safe through the Secure Asset Fund for Users (SAFU), an insurance fund that offers protection to Binance users and their funds in the event of extreme situations. Liquidity Goblin tweeted, “Binance just got de-banked in Australia, which country is next?”
Further details on this developing story are currently unavailable.