Binance’s<\/a> European banking partner Paysafe Payment Solutions will stop supporting the US cryptocurrency <\/a>exchange from September 25, CoinDesk reported on Wednesday.<\/p>\n The crypto exchange will be changing the provider for euro deposits and withdrawals through the Single Euro Payments Area (SEPA), while the current partner \u2014 Paysafe<\/a> \u2014 will no longer be providing these services to Binance users, the report<\/a> said, citing Binance’s spokesperson.<\/p>\n Binance typically accesses SEPA via payment intermediaries.<\/p>\n Paysafe and Binance did not immediately respond to a Reuters request for comment.<\/p>\n The report comes as Binance faces scrutiny from regulators keen to clamp down on money laundering.<\/p>\n Earlier this month, Binance and its US affiliate had entered an agreement with the Securities and Exchange Commission to ensure US customer assets remain within the country until a sweeping lawsuit filed by the regulatory agency is resolved.<\/p>\n Binance had tied up with Paysafe last year so that its users could deposit sterling via Faster Payments, a network that oversees payments and bank account transfers in Britain.<\/p>\n Binance is under preliminary investigation<\/a> by the Paris prosecutors office for both illegal canvassing of clients and aggravated money laundering. Last week, the company said<\/a> it was leaving the Dutch market because it had been unable to meet registration requirements to operate as a virtual asset service provider.<\/p>\n \u00a9 Thomson Reuters 2023\u00a0<\/em><\/p>\n \u00a0<\/p>\n For the latest tech news<\/a> and reviews<\/a>, follow Gadgets 360 on Twitter<\/a>, Facebook<\/a>, and Google News<\/a>. For the latest videos on gadgets and tech, subscribe to our YouTube channel<\/a>.<\/p>\n
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