– Binance urges users to convert their Euros to Tether (USDT) before the end of October.
– The exchange lost the support of its banking partner, Paysafe.
– Users are advised to convert their EUR balances in their Binance accounts to USDT before October 31.
– Paysafe has decided to stop processing EUR deposits for Binance users.
– Users can continue to withdraw their EUR balances from Binance accounts to their bank accounts.
– Paysafe users will no longer be able to trade EUR spot trading pairs.
– Binance Convert will also be restricted for EUR transactions.
– Paysafe suspended Euro deposits on September 25.
– The firm previously facilitated fiat deposits and withdrawals for Binance users in Europe.
– Binance is working to integrate new fiat channels soon.
– Binance France suggests customers convert fiat holdings into crypto.
– This is the latest regulatory and debanking issue for Binance in the West.
– Paysafe also pulled support for GBP transactions in May.
– Concerns were raised by UK financial regulators over the partnership.
– Binance left the Netherlands and halted its services in Belgium, but recently reopened registrations for Belgian residents.
