Ben Rose, head of Binance Australia, said at Australia Blockchain Week on June 26 that the exchange was cut off from the local banking system in May before we received a 24-hour bank cancellation at 11:30pm The notice, which later became 12 hours, so our banking services were cut off with absolutely no prior warning, consultation or remediation. The reasons given are not entirely clear and don't look all that good in the media,
Rose said the loss of access to its banking partners hadn't had a real impact on the business. Binance users are using other methods, requiring cooperation with regulators and the banking industry, as well as the possibility of implementing reasonable licensing for the industry.
Coin World previously reported that on May 18, Binance Australia announced the suspension of its US dollar services, and the payment provider Zepto informed it to stop the support of partner banks and payment provider Cuscal for Binance.
Rose said the loss of access to its banking partners hadn't had a real impact on the business. Binance users are using other methods, requiring cooperation with regulators and the banking industry, as well as the possibility of implementing reasonable licensing for the industry.
Coin World previously reported that on May 18, Binance Australia announced the suspension of its US dollar services, and the payment provider Zepto informed it to stop the support of partner banks and payment provider Cuscal for Binance.