According to an announcement made last month, Binance Australia has stopped accepting bank transfers for deposits and withdrawals of Australian dollars (AUD).
Chaos at Binance Australia, AUD Bank Transfers Suspended
Due to a decision made by the third-party payment service provider, Binance Australia announced on May 18 that it would no longer support AUD bank transactions using PayID. According to a May 22 update, the services would be available until June 1.
Recent Statements by Binance
Users of Binance Australia can still purchase and trade cryptocurrency using credit or debit cards, according to the company’s most recent tweet, which also stated that it is “working hard to find an alternative provider.”
About Binance
According to daily cryptocurrency trading volume, Binance is a multinational corporation that runs the biggest cryptocurrency exchange. Developer Changpeng Zhao, who had previously developed high-frequency trading software, started Binance in 2017.
The crypto exchange was initially based in China. However, over time, the Chinese government began to impose strict regulations on cryptocurrency trading. Shortly before the regulations came, the exchange moved its headquarters out of China.
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