Binance, the world's largest cryptocurrency exchange, has announced that it will be suspending EUR deposits and trading for Paysafe users. The decision comes after Paysafe Payment Solutions Limited (Paysafe) unilaterally decided to stop processing EUR deposits for Binance users.
The suspension will take effect on September 28, 2023 at 04:00 (UTC). Binance users who use Paysafe to deposit EUR are advised to take the following actions:
- Convert EUR balances in their Binance accounts to USDT before October 31, 2023 at 0:00 (UTC).
- Withdraw their EUR balances from Binance accounts to their bank accounts.
Binance has also announced that it will be terminating Spot Trading Bots services on EUR/USDT and EUR/BUSD trading pairs for Paysafe users. Users are strongly advised to update and/or cancel their Spot Trading Bots prior to the cessation of Spot Trading Bots services to avoid any potential losses.
Binance Convert will be restricted to EUR reduce only mode from September 28, 2023 at 04:00 (UTC). Reduce only mode allows users to sell EUR via Convert market orders or close EUR open limit orders, but restricts buying with EUR and opening new EUR limit orders. All Convert EUR open limit orders will be closed from September 28, 2023 at 05:00 (UTC).
Binance Auto-Invest EUR plans of Paysafe users will be paused from September 28, 2023 at 04:00 (UTC), and these users may not be able to subscribe to Auto-Invest plans with EUR thereafter. Note that Auto-Invest EUR services remain usual for other users.
Binance has apologized for any inconvenience caused by the suspension of EUR deposits and trading for Paysafe users. The company has stated that it is working to integrate new fiat channels onto Binance soon, as in line with its mission to provide a seamless crypto experience for all users.
