A Binance representative announced on Tuesday that the crypto company will stop accepting deposits and withdrawals in British pounds. This decision comes a month after the crypto exchange stopped facilitating dollar transactions.
British pounds are no longer supported
Binance has announced that it will discontinue British pound remittance services from partner Paysafe from May 22, which will theoretically affect all Binance customers.
New users are currently unable to make UK pound transfers. However, the spokesperson assured that Binance will ensure that affected users can still access their GBP balances and that less than 1% of Binance users will be affected by this change.
The number of customers affected is unknown
Binance, the world’s largest crypto platform with more than 128 million customers, has not provided details on how many customers will be affected by the halt to pound transfers.
This halt to British pound transfers comes shortly after Binance suspended all dollar transfers last month amid growing crackdown on crypto by US authorities. It is currently not yet known what exactly Binance’s next step will be.