Binance customers will need to update the bank details used to deposit funds to their accounts, as well as accept new conditions for further use of SEPA services.
This situation occurred against the background of a negative reaction against Binance from financial regulators in Europe and the United States. Recall that this month the U.S. Securities and Exchange Commission sued Binance.US and CEO Changpeng Zhao for violating several federal securities laws. The SEC charges were filed in connection with the sale of unregistered securities, as well as the mixing of customer funds and the exchange.
Against the background of these events, Vipapse announced its withdrawal from the Netherlands, Great Britain and Cyprus. The regulatory body in Belgium has banned the crypto exchange from offering its services in the country. According to the Financial Times, in February 2022, the UK financial regulator expressed concern that Binance had gained access to the country’s main payment network after concluding a deal with Paysafe.