Crypto Exchange Binance to Suspend US Dollar Bank Transfers This Week

USD bank transfers comprise only a tiny bit of monthly active users, the exchange said.

By Helene Braun

Feb 6, 2023 at 5:02 p.m. UTC

Updated Feb 6, 2023 at 9:52 p.m. UTC

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Helene Braun

Helene is a U.S. markets reporter at CoinDesk, covering the US economy, the Fed, and bitcoin. She is a recent graduate of New York University's business and economic reporting program.

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Crypto exchange Binance is temporarily suspending U.S. dollar bank transfers starting on Wednesday, the company confirmed to CoinDesk on Monday.

"We are temporarily suspending USD bank transfers as of February 8th," a Binance spokesperson said, noting just 0.01% of monthly active users use USD bank transfers. "Affected customers are being notified directly."

"In the interim, all other methods of buying and selling crypto remain unaffected, including bank transfer using one of the other fiat currencies supported by Binance (including euros), buying and selling crypto via credit card, debit card, Google Pay and Apple Pay and via our Binance P2P marketplace," the spokesperson added.

Binance's U.S. division, Binance.US, is not affected by the suspension, according to a tweet from Binance.US Customer Support.

UPDATE (Feb. 6, 19:44 UTC): Added that Binance.US was not affected.

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Helene Braun

Helene is a U.S. markets reporter at CoinDesk, covering the US economy, the Fed, and bitcoin. She is a recent graduate of New York University's business and economic reporting program.

Follow @HeleneBraunn on Twitter

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Helene Braun

Helene is a U.S. markets reporter at CoinDesk, covering the US economy, the Fed, and bitcoin. She is a recent graduate of New York University's business and economic reporting program.

Follow @HeleneBraunn on Twitter