Binance Temporarily Stops Payments From EU’s Sepa Platform: Report

Binance Temporarily Stops Payments From EU’s Sepa Platform: Report

Crypto exchange Binance has temporarily halted payments from the EU’s Single Euro Payments Area (SEPA), according to a Financial Times report citing a company email.

Binance customers won’t be able to deposit funds through Sepa starting 8 a.m. Wednesday, according to reports, and that the suspension was “temporary.” The Sepa network was designed to simplify bank transfers among 27 EU member countries. The Times said that Binance had also suspended the U.K.’s Faster Payments network.

Binance has faced European headwinds over the past two weeks. Barclays said Monday it was blocking customers from using their debit and credit cards to make payments to crypto exchange Binance, although the move does not prevent them from withdrawing funds from Binance.

In June, the U.K. Financial Conduct Authority (FCA) announced that Binance was not allowed to conduct any regulated activities in the country.

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